Exhibits: The Lands: State Lands
New Mexico State Land Office
The New Mexico State Land Office is responsible for administering 9 million acres of surface lands and 13 million acres of mineral rights for its beneficiaries, which include public schools, universities, as well as special schools and hospitals that aid children with physical, visual, and auditory disabilities. Each acre is designated to a specific beneficiary under provisions of New Mexico’s Constitution. The state’s public schools receive about 82 percent of the total money earned from state trust lands.
The State Land Office strives to maintain a balanced approach in its administration of these lands, optimizing returns to the trust’s beneficiaries while preserving the lands—and the plants and animals that inhabit them—for future generations of New Mexicans. Our mission is to be the nation’s model for state trust land management providing for current and future revenues to our beneficiaries, while ensuring the long-term health and productivity of state trust lands for the future.
New Mexicans are fortunate that most of the state trust lands lie within the oil-rich Permian Basin and the gas-rich San Juan Basin. As a result, most trust land revenues have been generated through royalties on the production of oil and gas.
Revenues from nonrenewable resources, such as royalties from oil, gas, and mineral extraction and proceeds from land sales, are deposited into a Permanent Fund. A percentage of invested revenues are paid to beneficiaries from this fund.
Revenues from renewable resources, such as grazing, rights of way, interest on earnings and bonuses paid to acquire oil and gas leases, are distributed directly to beneficiaries, minus the agency operating budget and administrative expenses.
In the past 20 years, state trust lands and permanent funds have contributed more than $4 billion to education in New Mexico, while generating revenues resulting in an $8 billion Land Grant Permanent Fund.
For additional information on the New Mexico state trust lands, please call the New Mexico State Land Office at (505) 827-5760, or visit the link below
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