Legislative Finance Committee

General Fund Revenue Tracking Report: Accruals through April 2018

Gross receipts tax revenue and revenue related to oil and gas activity continued to drive strong state income through April. Recurring revenue for the fiscal year through April was up $682 million from the same period a year ago for a total of $5.3 billion, an almost 15 percent increase. April recurring revenue was $662.1 million, up 14.2 percent from April 2017.

Health Notes: Medicaid Centennial Care Managed-Care Organization Procurement

Almost half of the 670,000 New Mexicans in the Medicaid Centennial Care program likely will have to change managed-care providers next year because two of the state's current Medicaid managed-care contractors failed to win a piece of the new $4 billion per year, four-year managed care contract. Molina and UnitedHealthcare, which serve more than 300,000 Centennial Care members, have filed formal legal appeals.

General Fund Revenue Tracking Report: Accruals through March 2018

Fueled by strength in the oil and gas industry, recurring revenue collection for FY18 through March were $4.6 billion, up $582.1 million, or 14.5 percent, from the same period a year ago. March recurring revenues were almost $527 million, up more than $39 million, or 7.6 percent, from a year ago.

LFC Quarterly Investment Report for the Quarter Ending March 31, 2018

In the last year, the combined value of the state’s investment holdings for the pension and permanent funds grew by over $3 billion, or 6.9 percent, to end the quarter at $50.7 billion. However, returns for the quarter were less than 1 percent or negative, and with distributions, resulted in the investment holdings declining by $236.9 million.

LFC Hearing Brief: Effective Tax Rates on the Oil and Gas Industry

State energy-related revenues – production taxes, rents, and royalties – were up more than $184 million, or 36.7 percent, in the first eight months of FY18 compared with the same period in FY17.