New Mexico § 75-12-1 Conservation legacy permanent fund; created;

New Mexico Statutes

§ 75-12-1 — Conservation legacy permanent fund; created;

New Mexico § 75-12-1

Ch. 75Miscellaneous Natural Resource Matters

Art. 12Legacy Funds

This text of New Mexico § 75-12-1 (Conservation legacy permanent fund; created;) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 75-12-1 (2026).

Text

investment; distribution.

A.The "conservation legacy permanent fund" is created as a nonreverting fund in the state treasury. The fund consists of distributions, appropriations, gifts, grants, donations and income from investment of the fund. Money in the fund shall be invested by the state investment officer with the same risk and return profile as land grant permanent funds are invested pursuant to Chapter 6, Article 8 NMSA 1978. Earnings from investment of the fund shall be credited to the fund. Money in the fund shall be expended only as provided by this section.

B.If, on July 1 of each year, the conservation legacy permanent fund exceeds one hundred fifty million dollars ($150,000,000) and the investment income to the fund for the previous fiscal year exceeded five million dollars (

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investment; distribution. A. The "conservation legacy permanent fund" is created as a nonreverting fund in the state treasury. The fund consists of distributions, appropriations, gifts, grants, donations and income from investment of the fund. Money in the fund shall be invested by the state investment officer with the same risk and return profile as land grant permanent funds are invested pursuant to Chapter 6, Article 8 NMSA 1978. Earnings from investment of the fund shall be credited to the fund. Money in the fund shall be expended only as provided by this section. B. If, on July 1 of each year, the conservation legacy permanent fund exceeds one hundred fifty million dollars ($150,000,000) and the investment income to the fund for the previous fiscal year exceeded five million dollars ($5,000,000), any investment income to the fund from the previous fiscal year in excess of five million dollars ($5,000,000) shall be distributed to the land of enchantment legacy fund.