BOND ISSUES & FUNDING CHANGES '22 VOTER GUIDE

At the New Mexico Business Coalition, we understand that it’s important that each voter is educated in every election, so they can be well-informed, and vote correctly. 

We believe that it’s important that voter’s are careful about which bond change they vote in support of because it will have a ripple effect for years to come, for all New Mexicans. So at NMBC, we encourage all voters to look at the summaries, effects, and consequences of each bond issue and funding change, to have a more informed vote in November. 

CONSTITUTIONAL AMENDMENT 1

  • Constitutional Amendment 1 would allocate 1.25% of the five-year average of year-end market values of the money in the Land Grant Permanent Fund to early childhood education (60% of the allocation) and public education (40% of the allocation).
  • As of 2020, the New Mexico Constitution provided that the annual distribution from the fund was 5%, which is what economists recommend. This amendment would increase the total annual distribution to 6.25%, which will eventually damage the fund for future use. 
  • Importantly, the state is currently unable to spend the money available for education. “We have more money than we need,” Patricia Lundstrom, Chair of the House Appropriations and Finance and Legislative Finance Committees. 8/26/21
  • Education funding has increased significantly over the past 15 years and still New Mexico is ranked last in the U.S. for educational performance and we are failing our children. More money is obviously NOT the answer!

VOTING YES: Will support allocating 1.25% of the five-year average of year-end market values of the money in the Land Grant Permanent Fund (LGPF) to early childhood education and the public school permanent fund and providing that the allocation would not occur if the average year-end market value for the preceding five years of the LGPF fund balance was below $17 billion.

VOTING NO: Will NOT allow the state to allocate 1.25% of the five-year average of year-end market values of the money in the Land Grant Permanent Fund (LGPF) to early childhood education and the public school permanent fund.

NMBC recommends: Voting “NO” on Constitutional Amendment 1

CONSTITUTIONAL AMENDMENT 2 TO ARTICLE IX

SUMMARY

  • This is a constitutional amendment to Article IX of the State Constitution, Authorizing Funds for Residential Services Infrastructure and adding an exemption to the state’s anti-donation clause. 
  • If approved, this would allow the state legislature to appropriate state funds (through a majority vote in each chamber) for infrastructure that provides essential services, which includes any infrastructure that allows internet, energy, water, waste water or other services provided by law.”
  • The amendment states that implementing this legislation for the essential services must contain a “safeguard to protect taxpayer dollars.”
  • Currently, there isn’t an exception for essential service infrastructure in Article IX and this would be a new exception.  
  • Read more HERE

WHAT YOUR VOTE SAYS

VOTING YES: Will allow and authorize the legislature to appropriate state funds for infrastructure that provides services primarily for residential use—such as internet, electric, natural gas, water, and wastewater—through a majority vote in each chamber.

VOTING NO: Will NOT allow or authorize this amendment for the legislature to appropriate state funds for infrastructure, providing residential services through a majority vote in each chamber, leaving no exception for residential service infrastructure in the state constitution’s prohibition against lending or pledging credit or donating to any person, association, or public or private corporation.

NMBC recommends: Voting “NO” on Constitutional Amendment 2

CONSTITUTIONAL AMENDMENT 3

SUMMARY

  • This would amend Section 35 of Article VI of the New Mexico Constitution, which addresses the appellate judges nominating commission and would also affect state supreme court justices, district court judges, and metropolitan court judges.
  • Constitutional Amendment 3 would provide that an appointed judge would be up for election at the first general election one year after being appointed. The winning candidate of that election would serve the remainder of the term in effect.
  • Read more HERE.

WHAT YOUR VOTE SAYS

VOTING YES: Will allow the constitutional amendment to provide that an appointed judge shall be up for election at the first general election one year after being appointed.

VOTING NO: Will NOT allow this constitutional amendment, thus maintaining that an appointed judge be up for election at the next general election.

NMBC recommends: Voting “NO” on Constitutional Amendment 3

BOND ISSUE 1

SUMMARY

  • Bond issue 1 would issue almost $24.5 million in bonds to make structural changes for select senior citizen facilities across the state.
  • This money would come out of a “General Obligation Bond,” which is considered a public debt and is paid for using state funds, specifically funds from a statewide property tax in New Mexico. 
  • Read more HERE

WHAT YOUR VOTE SAYS

VOTING YES: Will allow the sale and issuance of $24,470,000 in bonds, for senior citizen facility improvements.

VOTING NO: Will NOT allow the sale and issuance of $24,470,000 in bonds for senior citizen facility improvements and result in a decrease in property taxes. 

NMBC recommends a vote of “NO” on Bond Issue 1

NOTE: We love our seniors but feel that until the government becomes better stewards of our tax dollars, we need to pull back the authority we give it.

BOND ISSUE 2

SUMMARY

Bond Question 2 would issue up to $19,266,000 in general obligation bonds for library improvements at public libraries, public school libraries, academic libraries and tribal libraries statewide.

  • This money would come out of a “General Obligation Bond,” which is considered a public debt and is paid for using state funds, specifically funds from a statewide property tax in New Mexico. 
  • Read more HERE

WHAT YOUR VOTE SAYS

VOTING YES: Will allow the sale and issuance of $215,986,000 in bonds, for improvements to higher education, special public schools, and tribal schools.

VOTING NO: Will NOT allow the sale and issuance of $19,266,000 in bonds for library improvements and result in a decrease in property taxes. 

NMBC recommends a vote of “NO” on Bond Issue 2

NOTE: We support education and helping our children, but libraries have largely been replaced by computers and the investment should be there – not putting more of our tax dollars into facilities that don’t get the use they once did. Government is not a good steward of our tax dollars, and sometimes, you just need to say NO!

BOND ISSUE 3

SUMMARY

Bond question 3 would issue up to $215,986,000 in “General Obligation Bonds” to make structural changes for higher education, special schools, and tribal schools. 

  • This money would come out of a “General Obligation Bond,” which is considered a public debt and is paid for using state funds, specifically funds from a statewide property tax in New Mexico.
  • Read more HERE.

WHAT YOUR VOTE SAYS

VOTING YES: Will allow the sale and issuance of $215,986,000 in bonds, for improvements to higher education, special public schools, and tribal schools.

VOTING NO: Will NOT allow the sale and issuance of $215,986,000 in bonds for improvements to higher education, special public schools, and tribal schools.

NMBC recommends a vote of “NO” on Bond Issue 2

NOTE: New Mexico is completely overbuilt in higher education. We have three times the college facilities that Arizona has with triple New Mexico’s population. Again the government has not been good stewards of our tax dollars and telling them ‘NO’ would be a good first step.