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.168946.1
HOUSE MEMORIAL 57
48
TH LEGISLATURE
- STATE OF NEW MEXICO -
FIRST SESSION
, 2007
INTRODUCED BY
Paul C. Bandy
A MEMORIAL
REQUESTING THE APPROPRIATE LEGISLATIVE INTERIM COMMITTEE TO
REVIEW THE STATE'S COMPLIANCE WITH THE PROVISIONS OF THE
FEDERAL MINERAL LANDS LEASING ACT AND USE OF REVENUE ACCRUING
TO THE STATE PURSUANT TO THAT ACT.
WHEREAS, Title 30, Section 191 of the federal Mineral
Lands Leasing Act requires the treasury of the United States to
distribute to New Mexico fifty percent of the money received
from sales, bonuses and royalties collected under the Federal
Oil and Gas Royalty Management Act and the federal Geothermal
Steam Act attributable to lands and mineral deposits in the
state; and
WHEREAS, Title 30, Section 191 of the federal Mineral
Lands Leasing Act states that the money paid to the state is to
be used by the state and its political subdivisions as directed