Proposed Budget Highlights
The governor’s budget focuses on the areas of natural resources, housing, education, healthcare, public safety, economic development, and infrastructure. The budget includes the following recommendations:
Natural Resources
- Appropriates $500 million from severance tax bonds for the Strategic Water Supply.
- Directs a transfer of $250 million to the Land of Enchantment Conservation Fund.
- Supplies $20 million to support low-interest loans to communities to implement projects that reduce carbon emissions.
Housing
- Invests $250 million in the New Mexico Housing Trust Fund.
- Invests $250 million in the New Mexico Finance Authority Opportunity Enterprise Revolving Fund to increase funding for affordable housing.
- Allocates $40 million to support homelessness initiatives and expand homelessness services statewide.
Education
- Directs $33 million to expand early pre-kindergarten to an additional 1,380 children across the state.
- Provides $58.1 million for structured literacy, including $30 million for a new Structured Literacy Institute.
- Proposes $101.2 million to increase the minimum number of school days to 180.
- Invests $43.5 million dollars to provide healthy, universal school meals.
- Directs $96 million to provide a 3.0 percent increase for all educators.
- Recommends an increase of $11.9 million to the Higher Education Department to sustain funding for the Opportunity Scholarship.
Healthcare
- Provides $2.2 billion in recurring general funds for the Health Care Authority department including:
- $100 million for the Rural Healthcare Delivery Fund.
- $87.9 million for Medicaid provider rate increases to 150 percent for maternal/child health, primary care, and behavioral health.
- $20.8 million to expand the Supplemental Nutrition Assistance Program (SNAP) and provide a household benefit increase for elderly and disabled individuals.
- $11.5 million to increase the eligibility limit for Temporary Assistance for Needy Families (TANF) benefits.
- Invests $24.7 million to create a new Family Services division at the Children, Youth and Families Department.
Public Safety
- Provides $35 million for corrections and law enforcement recruitment statewide.
- Directs $11.5 million to provide compensation increases to New Mexico State Police.
- Proposes an increase of $7 million to support staffing at New Mexico District Attorney Offices.
- Allocates $35 million for the Firefighter and EMT Recruitment Fund.
Economic Development/Infrastructure
- Invests $100 million to launch the New Mexico Match fund to leverage federal funding for infrastructure investments such as roads, bridges, water, energy, and broadband.
- Recommends $25 million for the Local Economic Development Act Program (LEDA) and $9.7 million for the Job Training Incentive Program.
- Provides $5 million in total funding for the New Mexico Media Academy.
- Provides a 3.0 percent pay increase for state employees.