FGGAM just received this news release:
PEARCE FIGHTS FOR FAIR SHARE OF MINERAL REVENUES
Washington, DC (May 30, 2017) The Mineral Leasing Act (MLA) of 1920 stipulated that the federal government split mineral revenues 50-50 with the states. Recently, the federal government started taking an extra 2 percent from the states. Congressman Steve Pearce is co-leading H.R. 2661 with Congresswoman Liz Cheney to ensure states receive their proper share of federal mineral revenues.
“New Mexico relies on resource production, research, and development to fund our state’s most essential services like schools, hospitals, and law enforcement departments. Unfortunately, New Mexico’s hard-earned revenues are under attack. From delaying much needed payments due to frivolous environmental challenges, to the federal government taking a greater share – New Mexico has been losing out on money that it rightfully deserves. Congresswoman Liz Cheney and I introduced a bill last week that will eliminate the ability for the government to strip states of their fair share. New Mexico can’t afford to receive less revenues for what is rightfully ours, and I will fight until this problem is corrected.”
The MLA provides that all states be paid 50 percent of the revenues resulting from the leasing of mineral resources on Federal public domain lands within their borders. The Ryan-Murray budget agreement took an extra 2 percent from the states to cover “administrative expenses” that have never been fully documented.
