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Legislation to Increase Oil and Gas Royalty Rate on New Mexico State Lands Passes Senate Conservation Committee

SANTA FE, N.M. – Legislation to increase the top royalty rate charged for oil and gas development on state lands from 20% to the market rate of 25% passed the Senate Conservation Committee, New Mexico Commissioner of Public Lands Stephanie Garcia Richard announced today. Senate Bill 24 (also filed as House Bill 48), which is sponsored by Sen. Bill Tallman and Rep. Matthew McQueen, would bring New Mexico’s royalty rate in line with what is charged in Texas and would generate millions more in revenue each year for New Mexico’s public schools and other institutions.

“This bill passing its first committee is a huge first step. We should capitalize on the current oil and gas boom by raising what we charge to oil and gas companies to use land that belongs to New Mexicans. The result would be huge amounts of new money for our school kids,” said Commissioner Garcia Richard. “Our job is to earn as much revenue as we can for New Mexico’s public institutions. It makes no sense to charge a below market rate for developing our most valuable natural resources. As a former public school teacher myself, I understand how tight the budgets can get for our school districts. We need to pass an increased royalty rate now and set up our schools for long-term success. I’m grateful to the leadership of Rep. McQueen and Sen. Tallman, and look forward to this bill making it across the finish line this session.”

“Raising New Mexico’s royalty rate is long overdue,” said Sen. Tallman. “New Mexico has been getting far too little in return for the activities of oil and gas companies on our lands. Passing this legislation is a commonsense way for us to maximize the state’s earning potential and benefit countless New Mexicans in the long run. It’s legislation we should all be getting behind.”

“Raising the royalty rate should be a no-brainer. We are simply asking companies to pay the same rate they pay to lease land from private landowners and neighboring states like Texas,” said Rep. McQueen. “New Mexico is fortunate to have some of the best natural resources in the country, and we shouldn’t be content to give them away on the cheap, especially when the future of New Mexico’s kids is at stake. I urge all of my fellow legislators to do the right thing by our young people and pass this bill.”

The last time the royalty rate was updated by the Legislature was in the 1970s, well before the full economic potential of New Mexico’s oil and gas regions were fully understood. The legislation would only apply to new leases on the most productive oil and gas parcels on state lands.

SB 24 now heads to the Senate Finance Committee. 

Track Senate Bill 24 here.

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised more than $8 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.

 

Legislation to Increase Oil and Gas Royalty Rate on New Mexico State Lands Passes First Committee

SANTA FE, N.M. – Legislation to increase the top royalty rate charged for oil and gas development on state lands from 20% to the market rate of 25% passed the House Energy, Environment & Natural Resources Committee, New Mexico Commissioner of Public Lands Stephanie Garcia Richard announced today. House Bill 48 (also filed as Senate Bill 24), which is sponsored by Rep. Matthew McQueen and Sen. Bill Tallman, would bring New Mexico’s royalty rate in line with what is charged in Texas and would generate millions more in revenue each year for New Mexico’s public schools and other institutions.

“House Bill 48 passing its first committee is a huge first step. We should capitalize on the current oil and gas boom by raising what we charge to oil and gas companies to use land that belongs to New Mexicans. The result would be huge amounts of new money for our school kids,” said Commissioner Garcia Richard. “Our job is to earn as much revenue as we can for New Mexico’s public institutions. It makes no sense to charge a below market rate for developing our most valuable natural resources. As a former public school teacher myself, I understand how tight the budgets can get for our school districts. We need to pass an increased royalty rate now and set up our schools for long-term success. I’m grateful to the leadership of Rep. McQueen and Sen. Tallman, and look forward to this bill making it across the finish line this session.”

“Raising the royalty rate should be a no-brainer. We are simply asking companies to pay the same rate they pay to lease land from private landowners and neighboring states like Texas,” said Rep. McQueen. “New Mexico is fortunate to have some of the best natural resources in the country, and we shouldn’t be content to give them away on the cheap, especially when the future of New Mexico’s kids is at stake. I urge all of my fellow legislators to do the right thing by our young people and pass this bill.” 

“Raising New Mexico’s royalty rate is long overdue,” said Sen. Tallman. “New Mexico has been getting far too little in return for the activities of oil and gas companies on our lands. Passing this legislation is a commonsense way for us to maximize the state’s earning potential and benefit countless New Mexicans in the long run. It’s legislation we should all be getting behind.”

The last time the royalty rate was updated by the Legislature was in the 1970s, well before the full economic potential of New Mexico’s oil and gas regions were fully understood. The legislation would only apply to new leases on the most productive oil and gas parcels on state lands.

HB48 now heads to the House Appropriations and Finance Committee.

Track House Bill 48 here.

 

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised more than $8 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.

State Land Office Earns Record $2.75 Billion in Past Year

SANTA FE, N.M. – The New Mexico State Land Office has broken another record, earning $2.75 billion in revenue in fiscal year 2023 (FY23), Commissioner of Public Lands Stephanie Garcia Richard announced today. The revenue earned benefits New Mexico’s public schools, universities and hospitals. Under Commissioner Garcia Richard’s leadership, the State Land Office raised one billion dollars for the first time ever in 2019. In fiscal year 2022, the State Land Office surpassed the $2 billion threshold for the first time, earning $2.4 billion. Overall, the State Land Office has raised over $8 billion since Commissioner Garcia Richard first took office in 2019.

“It is our job to make money for education so we are excited to be breaking another record, but we are most excited about the impact this revenue will have for everyday New Mexicans. Simply put, $2.75 billion can be a real game changer for the state’s public schools and other vital institutions,” said Commissioner Garcia Richard. “We are constantly pursuing ways to diversify revenue sources for the long-term health of the institutions that benefit from state lands. Whether it’s providing affordable housing for seniors or approving large-scale renewable energy projects, we are open to business opportunities that can improve the lives of the people of New Mexico. The work we do saves the average New Mexico taxpayer $1,500 per year they would otherwise have to pay to fund the state’s institutions, and the savings will only grow with increased revenue. I’m extremely proud of our State Land Office staff for the dedication they show to our public schools and other institutions every day. This record revenue is due to their hard work, persistence and love for their state.”

“New Mexico School for the Blind and Visually Impaired is grateful and proud to be a beneficiary of the New Mexico State Land Office,” said Patricia Beecher, Superintendent of the New Mexico School for the Blind and Visually Impaired. “As a State Supported Special School, NMSBVI relies on the State of New Mexico for a majority of our funding. The funding received allows NMSBVI to provide support to the students with vision impairments or blindness across New Mexico from birth through the age of 21. NMSBVI appreciates the interest that NMSLO has taken in order to understand our mission, our beliefs, and our services to the students, their families, and many educators in New Mexico. NMSBVI looks forward to a continuing and even more successful partnership.”

“The vision and application of the New Mexico land grants have paid dividends towards the success of the twenty-one beneficiaries’ missions for over a century. The New Mexico Military Institute is no exception to that declaration as a high-performing educational institution within a military structure,” said Maj. Gen. Jerry Grizzle (USA Retired), PhD, President and Superintendent, New Mexico Military Institute. “The fund’s growth is now providing NMMI with over 50% of its annual budget needs. This allows New Mexico residents the full benefit of NMMI without bearing the total cost of the Institute. It allows New Mexico to host a premier institution with a unique mission that does not exist anywhere else.”

Since taking office in 2019, Commissioner Garcia Richard has prioritized diversifying revenue streams at the State Land Office. She established the first Office of Renewable Energy within the State Land Office, which has quadrupled the amount of renewable energy under lease on state lands since its launch in 2019. She has also pursued leases to meet community needs such as affordable housing. A 92-unit affordable housing community for Albuquerque seniors opened on state land near Eubank and Central in 2022, and a similar affordable senior community will open on state land across the street soon.

“The State Land Office has been and remains instrumental in the continued success of the fund growth and thus the success of NMMI including NMMI’s financial impact on the local community which has been determined to be in excess of $45 million annually,” continued Maj. Gen. Grizzle. “NMMI is grateful for the recent success of the State Land Office under the guidance of State Land Commissioner Garcia Richard for her and her team’s success in managing the lands for financial gains while assuring the sanctity of the state lands for future generations.”

 

 

FY23 Beneficiary Distributions*

 

 

 

Direct distribution to beneficiaries

Transfers to the Land Grant Permanent Fund for investment on behalf of beneficiaries

Total

 

 

 

 

 

 

 

 

1.  Public Schools

82,419,631.32

2,458,335,664.47

2,540,755,295.79

 2.  UNM

4,924,937.54

10,114,003.50

15,038,941.04

 3.  Saline Lands

269,895.41

41,548.00

311,443.41

 4.  NMSU

1,473,186.20

3,260,123.83

4,733,310.03

 5.  WNMU

551,197.63

24,572.00

575,769.63

 6.  NMHU

576,149.16

24,572.00

600,721.16

 7.  Northern NM School

484,776.50

24,640.00

509,416.50

 8.  ENMU

160,269.99

56,201.00

216,470.99

 9.  NM Inst. of Min. &

       Tech.

918,747.21

280,614.00

1,199,361.21

10.  NMMI

641,050.19

22,458,177.50

23,099,227.69

11.  NM Boys School

93,143.31

0.00

93,143.31

12.  Miners Hospital

1,397,668.23

1,390,212.00

2,787,880.23

13.  State Hospital

1,270,939.67

3,469,913.00

4,740,852.67

14.  State Penitentiary

2,025,814.32

20,755,020.00

22,780,834.32

15.  School for the Deaf

328,003.59

9,161,713.00

9,489,716.59

16.  Sch. for Visually Hd.

374,102.51

9,178,582.48

9,552,684.99

17.  Charitable, Penal & Reform

762,657.58

1,335,202.28

2,097,859.86

18.  Water Reservoirs

612,207.01

1,058,988.55

1,671,195.56

19.  Rio Grande Improve.

147,093.55

194,158.00

341,251.55

20. Public Buildings

2,841,373.87

71,309,760.00

74,151,133.87

21. Carrie Tingley

        Hospital

39,537.00

1,925.00

41,462.00

 

 

 

 

 

 

 

 

Total

$102,312,381.79

$2,612,475,590.61

$2,714,787,972.40

 

 

 

 

*Note: Amounts shown above indicate total transfers after withholding for the agency’s budgetary expenses and contributions to the Restoration and Remediation Fund.

 

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised more than $8 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.

Commissioner Garcia Richard Extends Ban on Oil and Gas Drilling on State Lands Near Chaco

SANTA FE, N.M. – New Mexico Commissioner of Public Lands Stephanie Garcia Richard announced at a press conference today that she is extending her ban on new oil, gas and mineral leasing on 72,776 acres of state lands near Chaco Culture National Historical Park through December 31, 2043. In one of her first acts as Land Commissioner in 2019, Commissioner Garcia Richard placed a mortarium on oil, gas and mineral leasing on state lands near Chaco, which was originally set to expire at the end of this year. That order also established the Chaco Canyon Working Group to advise the agency on appropriate uses of state lands in the Greater Chaco region. U.S. Department of Interior Secretary Deb Haaland issued a similar leasing 20-year ban on federal lands surrounding Chaco in June of this year.

“The Greater Chaco landscape is one of the most special places in the world, and it would be foolish not to do everything in our power to protect it,” said Commissioner Garcia Richard. “This region is significant for our Indigenous communities and the cultural properties found in the area are irreplaceable. Action at both the federal and state level is necessary to ensure we are protecting these special resources. Simply put, there is too much at stake for widespread oil and gas development to occur so close to Chaco. I’m grateful for the advice of our working group so far to ensure we are managing the lands surrounding the park in a way that honors their cultural importance.”

 “Today, is another historical day, a day that we have continue to pray for and work for to protect our sacred landscapes,” said Mark Mitchell, Chairman of the All Pueblo Council of Governors and former Governor of Tesuque Pueblo. “The Pueblos are living cultures. We rely on the land and her ecosystems to sustain our traditions. In particular, Chaco Canyon has been subject to unfettered oil and gas development for decades. We are deeply appreciative of State Land Commissioner Stephanie Garcia Richard for reissuing Executive Order 2019-002, that will withdraw state lands and minerals within an approximate 10-mile radius surrounding Chaco Culture National Historical Park and its outliers. On behalf of APCG, we also acknowledge past and current tribal leadership for their work to ensure that the 2019 Executive order was extended. But our work is never done, we are thankful for this moment, but we pray that Chaco Canyon and the Greater Chaco Region will be permanently protected. The permanent protection is not only for us, but for those who have yet to be born so they may continue to know that our roots, our cultures, our languages are tied to this sacred and irreplaceable area.”

In December 2022, Commissioner Garcia Richard also implemented the agency’s first-ever Cultural Properties Protection Rule requiring cultural properties surveys to be conducted before ground disturbance can occur on state lands. Analysis by the Cultural Resources Office within the State Land Office suggests more than 80 percent of state lands in the Greater Chaco Region have still not been surveyed for cultural properties.

Read the Executive Order here.

View a map of active oil and gas leases in the region.

View a map of the mineral leasing restriction boundaries.

View a map comparing the state and federal restriction boundaries.

View a list of Frequently Asked Questions.

 

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised more than $8 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.

December 14 at 10 a.m.: Commissioner Garcia Richard to Announce Extension of Oil and Gas Ban Near Chaco at Virtual Press Conference

SANTA FE, N.M. – New Mexico Commissioner of Public Lands Stephanie Garcia Richard will host a virtual press conference on Thursday, December 14 to announce an extension of a moratorium on new oil and gas leasing on state lands near Chaco Culture National Historical Park.

WHAT: Virtual press conference regarding extension of moratorium on oil and gas leasing on state lands near Chaco

WHO: New Mexico Commissioner of Public Lands Stephanie Garcia Richard; Advocates for protecting Chaco Canyon

WHEN: Thursday, December, 14 at 10 a.m.

WHERE: Remotely via Zoom, Click here; Meeting ID: 869 1082 6394; Passcode: 862884

 

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised more than $8 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.

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