Welcome to the Legislative Finance Committee






Program Evaluation Reports Agency Performance Report Cards Budget Documents



2015 Legislative Session Highlights
The 2015 legislative session will be remembered for declining oil and gas prices and general fund revenue forecasts for “new money” falling from $285 million in August to $83 million in February. The Legislature enhanced the general fund revenue outlook with passage of Senate Joint Resolution 19 and an expected $10 million from gaming revenue.

Highlights of Senate Amendments to HAFC Substitute for HB2 the 2015 General Appropriations Act
Senate Finance Committee action on HB2 increased FY16 recurring general fund appropriations, including House Bill 1, to $6.234 billion, nearly $83 million, or 1.3 percent, over the FY15 operating budget. Notable increases include $36.6 million for public education, $10.5 million for the Corrections Department, $8.3 million for the Children, Youth and Families Department, $6.8 million for the Department of Public Safety, and $3.5 million for tourism and economic development.

Oil and Gas Production and the NM State Budget
Energy markets are inherently volatile, and although these revenues have supported growth in government spending, increasing reliance on energy-related revenues is also a risk.

Highlights of HAFC Substitute for HB 2
The House substitute for the General Appropriation Act includes an increase in total recurring general fund appropriations of $81.7 million, or 1.3 percent, over the FY15 operating budget. Notable increases include $36.6 million for public education, $10.5 million for the Corrections Department, $8.2 million for the Children, Youth and Families Department, $7 million for the Department of Public Safety, and $3.5 million for tourism and economic development.

Finance Facts
Five new Finance Facts, one-page guides on the mechanics of state government. These discuss investment funds, the Job Training Incentive Program, Medicaid, public school construction, and the lottery.

February Update to Consensus Revenue Estimate
Since the December 2014 forecast, the consensus revenue estimating group has revised both the estimates for FY15 and FY16 downward. The projection for "new money" for FY 16 is now $83 million, compared with $141 in December.

LFC NewsLetter

January 2015

LFC Calendar


LFC Meeting Agenda

Agenda is not available.