HOUSE MEMORIAL 4

57th legislature - STATE OF NEW MEXICO - first session, 2025

INTRODUCED BY

Rod Montoya and Rebecca Dow and Mark B. Murphy

and Jonathan A. Henry and Gail Armstrong

 

 

 

 

A MEMORIAL

DECLARING JANUARY 28, 2025 "NEW MEXICO OIL AND GAS DAY" IN THE HOUSE OF REPRESENTATIVES.

 

     WHEREAS, in 2024, the New Mexico oil and natural gas industry generated thirteen billion dollars ($13,000,000,000) in state and local revenue; and

     WHEREAS, of that amount, seven billion four hundred million dollars ($7,400,000,000) went to the general fund, representing forty-nine percent of the general fund's 2024 revenue; and

     WHEREAS, five billion five hundred million dollars ($5,500,000,000) went to the general fund operating reserve; and

     WHEREAS, two billion three hundred million dollars ($2,300,000,000) went to total state education funding that served one hundred thirty thousand five hundred eight students, three hundred eighty-six public schools and nine thousand five hundred eighty public school teachers; and

     WHEREAS, six hundred million dollars ($600,000,000) went to higher education; and

     WHEREAS, two hundred seventy-nine million dollars ($279,000,000) went to the construction and renovation of public school facilities; and

     WHEREAS, the oil and natural gas industry provided ninety percent of the funding for the early childhood care and education fund in 2024; and

     WHEREAS, one billion two hundred million dollars ($1,200,000,000) went to matching federal medicaid funds; and

     WHEREAS, nine hundred sixty-four million dollars ($964,000,000) went to new capital outlay appropriations for projects throughout the state; and

     WHEREAS, the oil and natural gas industry is the largest private sector employer in New Mexico, providing more than one hundred thousand direct and indirect jobs to New Mexico residents;

     NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF NEW MEXICO that the oil and natural gas industry be recognized for its vital contributions to the state by declaring January 28, 2025 "New Mexico Oil and Gas Day" in the house of representatives; and

     BE IT FURTHER RESOLVED that a copy of this memorial be transmitted to the secretary of energy, minerals and natural resources.

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