The Associated Press
Created: January 23, 2020 02:46 PM
SANTA FE, N.M. (AP) - New Mexico schools and other beneficiaries will share more than $1 billion in funding from the state's permanent endowment funds.
The State Investment Council said Thursday the amount that will be distributed over the next fiscal year will be more than ever before.
It also marks an increase of more than $60 million over the last year due to growth of the state’s Land Grant and Severance Tax permanent funds.
State investment officials say record revenues from oil and gas production and strong investment returns over the past decade have turned the permanent funds into a billion-dollar revenue generator.
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