LAND GRANT-MERCED ASSISTANCE FUND CHANGES

HB 21 changes the revenue thresholds that determine the percentage of annual distributions land grant-merced communities receive from New Mexico's Land Grant-Mercy Assistance Fund. The bill adjusts the income levels qualifying for full (100%), 75%, 50%, or 25% distributions and makes the fund nonreverting, meaning any remaining balance at year-end stays in the fund instead of reverting to the general fund. This directly affects land grant-merced communities meeting compliance requirements under the fund's rules. The changes take effect July 1, 2025.