With less than a day left to act on bills, Gov. Susana Martinez signed the FY 16 state budget this afternoon. Even with partial vetoes, the $6.235 billion budget features an increase of 1.3 percent and $84.2 million in new spending.
Gov. Susana Martinez had lunch with business leaders yesterday, taking the opportunity to sign HB 170, which makes changes to the Higher Education Endowment Act that allow an infusion of cash into the endowment fund once the budget is signed.
Applause broke out on the house floor as members voted unanimously to concur with senate changes to the state budget bill. The $6.234 billion budget calls for a 1.3 percent increase in spending with reserves hovering at 8 percent.
On a 42–25 vote, the New Mexico House of Representatives approved the state budget bill that contains $6.2 billion to fund state government and public education for 2015-16. Higher education’s share of that budget pie is $846 million, with $810 million allocated to the institutions, including a $2.1 million increase in operating funds for UNM.
They keep calling it is a messy process that leaves no one totally happy. That is how the state budget is built. This afternoon, House Appropriations approved what will go into the final crafting of the general appropriations act as will be found in HB2.
It’s UNM Day at the New Mexico Legislature and we couldn’t have scripted a more memorable event. Bright, warm, and sunny with Clifford the Big Red Dog roaming the halls and Sen. Mark Moores (R-Albuquerque) leading his fellow alums in the Senate in the...