2020 Legislative Session
Early ed endowment moves forward (Updated)
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A bill calling for a new endowment to create a revenue stream for early childhood programs was approved Monday by the Senate Education Committee — surviving its first test in the Legislature. Under Senate Bill 3, sponsored by Sen. John Arthur Smith, D-Deming, and Rep. Doreen Gallegos, D-Las Cruces, the Early Childhood Education and Care Fund would get its first infusion of cash, $320 million, in fiscal year 2021. It would then get annual distributions from the state’s oil and gas emergency school tax and revenue from federal mineral leases until it reaches at least $1 billion. The Senate Education Committee unanimously voted in favor of the bill. Smith told lawmakers on the committee the fund would distribute $20 million for public and private early childhood education programs around New Mexico in its first year.