NM Earns Nearly $48 Million From Trust Lands

Jun 11, 2013

Royalties from leases and oil and natural gas production on New Mexico trust land netted nearly $48 million in revenue in May.

The revenue coming into the State Land Office each month supports public schools, universities and hospitals.

New Mexico Land Commissioner Ray Powell says the goal is to create jobs while protecting the state's working lands.

In May, more than $42 million went to public schools alone. Special schools, such as the School for the Blind and Visually Impaired in Alamogordo and the School for the Deaf in Santa Fe, received nearly $2.3 million.

More than $377,000 went to state colleges and universities.

Copyright 2013 The Associated Press.