by Invest in Kids Now!

SANTA FE—A new economic analysis of the state’s Land Grant Permanent Fund shows that the Fund is robust and that increasing the distribution from the Fund’s annual income would not damage it.

That conclusion is from a report by Vicente Feliciano, President of Advantage Business Consulting and renowned economist. Feliciano presented the new study today at a press conference at the state Capitol. The press conference, held by Invest in Kids Now!, aimed at raising support for legislation—the Early Learning Constitutional Amendment (SJR-12)—that would allow the voters to increase the distribution from the Land Grant Permanent Fund in order to expand early childhood care and learning programs.

“New Mexico is turning its oil assets into financial assets and meanwhile its human assets are depleting rapidly,” said Feliciano, referring to the great gains the Fund has made over the last several years due to excellent stock market returns, as well as the state’s drop to dead last in the nation in child well-being. The Fund’s income comes from rents and royalties on the mineral production on public lands as well as investments in the stock market. The vast majority of the annual distribution of that income goes to K-12 public schools.

Opponents of SJR-12 say they fear the change will cause the Fund to lose value. Voters last raised the distribution in 2003, when the Fund was worth $6.8 billion. Since then the Fund has almost doubled, now topping $12 billion.
Allen Sánchez, President and CEO of St. Joseph Community Health, and Senator Michael Padilla also spoke at the press conference. They outlined real solutions for improving the lives of New Mexico’s kids. Sánchez and Padilla are among the community leaders and elected officials rallying for a bold response to New Mexico’s fall to 50th in the nation in child well-being in the 2013 KIDS COUNT Data Book.

The report, “Analysis of Transferring Resources from New Mexico's Land Grant Permanent Fund to Early Childhood Education” is available online: http://www.investinkidsnow.org/uploads/files/LGPF-Report-NM-Jan-23-14.pdf

Content on the Beat

WARNING: All articles and photos with a byline or photo credit are copyrighted to the author or photographer. You may not use any information found within the articles without asking permission AND giving attribution to the source. Photos can be requested and may incur a nominal fee for use personally or commercially.

Disclaimer: If you find errors in articles not written by the Beat team but sent to us from other content providers, please contact the writer, not the Beat. For example, obituaries are always provided by the funeral home or a family member. We can fix errors, but please give details on where the error is so we can find it. News releases from government and non-profit entities are posted generally without change, except for legal notices, which incur a small charge.

NOTE: If an article does not have a byline, it was written by someone not affiliated with the Beat and then sent to the Beat for posting.

Images: We have received complaints about large images blocking parts of other articles. If you encounter this problem, click on the title of the article you want to read and it will take you to that article's page, which shows only that article without any intruders. 

New Columnists: The Beat continues to bring you new columnists. And check out the old faithfuls who continue to provide content.

Newsletter: If you opt in to the Join GCB Three Times Weekly Updates option above this to the right, you will be subscribed to email notifications with links to recently posted articles.

Submitting to the Beat

Those new to providing news releases to the Beat are asked to please check out submission guidelines at https://www.grantcountybeat.com/about/submissions. They are for your information to make life easier on the readers, as well as for the editor.

Advertising: Don't forget to tell advertisers that you saw their ads on the Beat.

Classifieds: We have changed Classifieds to a simpler option. Check periodically to see if any new ones have popped up. Send your information to editor@grantcountybeat.com and we will post it as soon as we can. Instructions and prices are on the page.

Editor's Notes

It has come to this editor's attention that people are sending information to the Grant County Beat Facebook page. Please be aware that the editor does not regularly monitor the page. If you have items you want to send to the editor, please send them to editor@grantcountybeat.com. Thanks!

Here for YOU: Consider the Beat your DAILY newspaper for up-to-date information about Grant County. It's at your fingertips! One Click to Local News. Thanks for your support for and your readership of Grant County's online news source—www.grantcountybeat.com

Feel free to notify editor@grantcountybeat.com if you notice any technical problems on the site. Your convenience is my desire for the Beat.  The Beat totally appreciates its readers and subscribers!  

Compliance: Because you are an esteemed member of The Grant County Beat readership, be assured that we at the Beat continue to do everything we can to be in full compliance with GDPR and pertinent US law, so that the information you have chosen to give to us cannot be compromised.