By Daniel J. Chacón, Santa Fe New Mexican
May 13, 2021
Oil and gas have greased the wheels of New Mexico’s economy for several decades, but U.S. Sen. Martin Heinrich is planning for the day when the industry is not a central player in the state’s budget.
In a move designed to provide governments with a path away from their reliance on federal mineral revenues, Heinrich plans to introduce a revenue replacement bill next week. The proposed Schools and State Budgets Certainty Act “would provide a predictable transition for states, counties, and tribes and give those governments time to transition their budgets to more sustainable and reliable sources of revenue,” according to Heinrich’s office.
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