Contact: Isaac Padilla
505/986.4263
Isaac.Padilla@nmlegis.gov
FOR IMMEDIATE RELEASE
Investments in Bold, Early Childhood Education, and
Bill to Thwart Deep Cuts in Classroom Resources Advance in Senate
(Santa Fe, NM) – Two bills to allow the people of New Mexico to make major investments in the education and development of children advanced this week in the State Senate. Senator Michael Padilla is the sponsor of both of the constitutional amendment measures.
Senate Joint Resolution 2 (SJR 2), “Permanent Funds for Childhood Education”, would boost spending on early childhood education programs by $127 million annually. Senate Joint Resolution 3 (SJR 3), “Permanent Fund Annual Distributions” would make permanent the additional .8% funding for public education passed by the voters in 2003, but which is set to expire this year, costing schools millions. These new investments in children’s education would be drawn from the return on investment from state Land Grant Permanent Fund. The Padilla education measures have been forwarded by both the Senate Rules and Judiciary committees, and they will be taken up next by the Senate Finance Committee.
“I am very pleased that these important measures for our children’s futures are making their way through the Senate’s committee system. I believe strongly that the people of this state, if given the chance, will want to invest in the character and intellect of our children. These are bold reforms that are not only good for children, but they also create thousands of needed jobs. These investments are long overdue in New Mexico. If not now, when?” said Senator Michael Padilla (D-14-Bernalillo).
New Mexico needs bold investments in young children now. The state was ranked 50th in the nation for child well-being in 2013, and has been ranked 49th for the past two years. New Mexico has the highest rate of children living in poverty in the nation. The vast majority of 3 and 4 year olds in New Mexico receive no pre-school instruction.
SJR 2, “Permanent Funds for Childhood Education”, would invest 1% of the value of the Land Grant Permanent Fund, or approximately $127 million annually for ten years, into prenatal through age five early childhood education programs across the state.
The $15 billion fund, which was created to serve the educations needs of the state, receives royalties from oil and natural gas production and other income from state lands. Public schools, state universities and other beneficiaries currently receive a 5.5 % annual distribution, set to drop to 5% in July, from the $15 billion fund. To change the distribution from the Land Grant Permanent Fund for early childhood, voters need to approve a constitutional amendment on the November ballot.
SJR 3, “Permanent Fund Annual Distributions”, fixes a serious, looming fiscal problem for public school classrooms by enabling voters to make permanent .8% of the Land Grant Permanent Fund monies that were put in place by the voters in 2003. If the measure fails to become law and if voters reject it, classrooms would suffer cuts of more than $100 million annually.
“This measure, Senate Joint Resolution 3, is critical for New Mexico’s future. Without it, classrooms and the education of children will experience disastrous reductions in funding and resources. It is imperative that we pass it,” added Sen. Padilla.
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