Legislative Finance Committee

LFC Hearing Brief: GRT Food Deduction and Hold Harmless Distributions

The $200 million the state "spends" by exempting food from the gross receipts tax is the largest of the many gross receipts tax expenditures that have narrowed the base, forcing fewer taxpayers to pay higher rates to maintain the same revenue.

Hearing Brief: Substance Use Disorder Services

New Mexico is first in the nation for alcohol deaths and has a drug death rate among men that is twice the national average. Substance abuse and behavioral health services are still inadequate but are getting better.

Program Evaluation: Federal Funding in New Mexico Public Schools

New Mexico schools receive about a half billion dollars in federal support each year, but schools leave millions in state and federal grants unspent.

LFC Investment Report for the Quarter Ending December 31, 2017

The total value of the state's four investment funds grew by $5 billion in 2017, or 10.8 percent, ending the year at a combined value of $50.9 billion. The pension funds managed by the Educational Retirement Board and Public Employee Retirement Association grew by 10.2 percent and 8.9 percent, respectively, and the land grant and severance permanent funds managed by the State Investment Council grew by a combined 12.6 percent.

General Fund Revenue Tracking Report: Accruals through February 2018

February recurring revenues were up 16.8 percent from February 2017, primarily due to strength in gross receipts tax revenue, personal income tax withholding, and oil and gas withholding, production taxes, and rents and royalties. Total recurring revenue collections for the fiscal year through February were $4.1 billion, up 16.2 percent from a year ago and about 3 percent above the January estimate.