LAND GRANT-MERCED ASSISTANCE FUND CHANGES

HB 88 changes how funds from New Mexico's Land Grant-Merced Assistance Fund are distributed to eligible land grant communities. It raises the revenue threshold for full annual distributions from $50,000 to $100,000, creating new tiers: 75% distribution for $100,000-$250,000 revenue, 50% for $250,000-$500,000, and 25% for $500,000+ revenue. The bill also makes the fund "nonreverting," meaning undistributed funds no longer return to the general state fund. These changes directly affect land grant communities that meet compliance requirements, including having elected boards and audit certifications.