Political Quotes

“Mr. Speaker, S. 430 is an important housekeeping measure that amends the act of June 20, 1910, which provided statehood to the territory of New Mexico. The bill changes the manner in which State permanent funds are invested and also changes the distribution formula for fund revenues. Mr. Speaker, the voters of New Mexico approved these changes to the New Mexico State Constitution in 1996 in an effort to maximize the returns of the funds, which are used for education and the care of the poor and needy in the State of New Mexico. Since the revenues in the two New Mexico funds are derived from activities that occur on former Federal lands granted to the State under the Enabling Act of 1910, it is necessary to obtain the consent of Congress before the State's constitutional amendments can be implemented. The Subcommittee on National Parks and Public Lands held a hearing on H.R. 1051, the House companion bill to S. 430, on June 17, 1997. The legislation is supported by the entire New Mexico congressional delegation. The administration has no objection to the measure, and I am not aware of any controversy associated with this bill. I support S. 430 and recommend that the House approve this proposed legislation.”