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Wed April 16, 2014
NM Land Office Earns $69 Million In March
New Mexico schools, hospitals and universities received $69 million last month from the State Land Office.
Public Lands Commissioner Ray Powell announced the monthly distributions Tuesday, saying his office is working collaboratively with the private sector, tribes and local, state and federal agencies to create jobs for New Mexicans while taking care of the health of the state's working trust lands.
Of the March revenue from oil and gas royalties and other sources, Powell says more than $61 million went to public schools and more than $1.7 million went to state colleges and universities.
Powell says that over the last three years, the trust lands produced more than $1.7 billion in income for the beneficiaries, saving the average household about $800 a year in taxes.
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