Legislative Finance Committee

Spending levels in the committee substitute for House Bill 2, along with appropriations for the operations of the Legislature in HB1, would put FY20 recurring general fund appropriations at $7.013 billion. This is an increase of $684 million, or 10.8 percent, over the FY19 general fund operating budget.

Although the mid-session update to the state revenue forecast is unchanged from December 2018, the Consensus Revenue Estimating Group urged caution due to continued risks from oil prices, trade wars, and the federal shutdown.

A summary of how New Mexico public schools are funded, description of the New Mexico education sufficiency lawsuit, and a review of evidence-based programs.

About $640 million for 1,608 capital outlay projects was outstanding as of December 2018, including more than $200 million for projects authorized in 2016.

Weak economic and population growth in the Rail Runner service area and consistent declines in ridership have contribute to high per-passenger costs and discouraged development around its stations, but targeted investments could help the state's only commuter rail line recover.