New Mexico Commissioner of Public Lands Ray Powell has announced that the State Land Office earned $55.6 million in revenue last month for the beneficiaries of the state land trust.
“The New Mexico State Land Office is working hard to ensure that revenues are optimized to support the public schools, universities, and hospitals,” said Commissioner of Public Lands Ray Powell. “We are also working with the private sector, our sovereign tribes, our local, state, and federal agencies, and our local communities to create jobs for New Mexicans.”
The New Mexico State Land Office is responsible for managing state trust lands to generate income for 22 beneficiaries and for taking care of the lands so they are healthy and productive for the future.
- Almost $48.7 million went to support public schools in New Mexico.
- More than $1.6 million went to state colleges and universities.
- Almost $1.3 million went to special schools, such as the School for the Blind and Visually Impaired, in Alamogordo, and the School for the Deaf, in Santa Fe.
- About $1.2 went to hospitals, including Miner’s Colfax Hospital in Raton and CarrieTingley Hospital in Albuquerque.
- The remaining $2.7 million went to other institutions, including the State Penitentiary and public buildings, water reservoirs, Rio Grande Improvements, and other beneficiaries.
Revenues from nonrenewable use of the trust lands, such as the royalties from oil and natural gas extraction, are deposited into the Permanent Fund. They are invested and a percentage of the fund is paid to the beneficiaries.
Revenues from the renewable resources uses, such as grazing, rights of way, interest on earnings and bonuses paid to acquire oil and gas leases, are distributed directly to the beneficiaries, minus the State Land Office’s operating budget and other administrative expenses.
Land Commissioner Ray Powell and Kirtland Air Force Base have also announced an agreement pledging to promote collaboration and mutually compatible future development on and near the military installation.
The Memorandum of Understanding (MOU) follows the State Land Office and Kirtland Air Force Base (KAFB) participating in the development of a Joint Land Use Study (JLUS), which was completed in June of 2012. The JLUS encompasses Sandoval, Bernalillo, Valencia, and Torrance Counties.
There are more than 53,000 surface acres of trust land within the JLUS planning area and about 11,500 surface acres of which are within the more limited JLUS Study Area. “I will continue to work collaboratively with Kirtland Air Force Base to responsibly implement the approved plans for the development of the Mesa del Sol community, the Sandia Science and Tech Park, and La Semilla – a 2,880-acre nature preserve and environmental education campus located east of the Mesa del Sol planned community,” said State Land Commissioner Ray Powell. “Together we can work to create opportunities that strengthen our community and protect our national security.”
“The MOU (Memorandum of Understanding) is a collaborative effort between the State and Kirtland Air Force Base and is a testament to the outstanding relationship the base enjoys with the State Land Office. This will ensure coordination between affectedagencies to establish and discuss the impact of future development and activities within the area,” said Ed Sullivan, Deputy Director, 377th Mission Support Group.
Revenue from the La Semilla lease goes to support New Mexico public schools and the University of New Mexico.
A complete list of state land trust beneficiaries is available here.
The monthly financial reports are available here.