| The state’s Land Grant Permanent Fund will distribute almost $600 million this year to New Mexico schools and other beneficiaries, a year-over-year increase of more than $60 million. In fiscal year 2016, we expect the Land Grant Permanent Fund and our other permanent endowment, the Severance Tax Permanent Fund, will distribute as much as $850 million in funding to benefit public schools and pay for government services.
While many New Mexicans are unaware of these benefits, without them, we would all be paying much higher taxes. As members of the State Investment Council, we ask for your vote on Nov. 4 for Constitutional Amendment 5. Amendment 5 will allow us as fiduciaries to better manage the Land Grant Permanent Fund, and should have a long-lasting and valuable impact on the state’s investment returns...............................................Full Article: Source |