SANTA FE, N.M. (AP) - Lawmakers looking to boost funding for early childhood educational initiatives by tapping a $20 billion endowment drew criticism from across the political spectrum during a recent debate, indicating they’re in for a spirited fight during the final week of the legislative session.
The proposal would draw an additional 1% per year from the Land Grant Permanent Fund to fund universal pre-K, infant and toddler care as well as optional home visits for new parents.
Proponents want to earmark the funds for early childhood programs as a way to address the state’s endemic child poverty problems.
To expand the fund’s uses and increase withdrawals, legislators would have to approve a proposed constitutional amendment. Voters would then have the final say in a statewide election, which could happen as soon as this fall.
In the short term, the Early Childhood Education and Care Department is expected to get a one-time increase in funding thanks to the federal stimulus passed this week.
In meeting Thursday night, bill sponsor Rep. Antonio Maestas argued that annual cash increases in the endowment are far outpacing investments in children.
The Albuquerque Democrat held up a yellow note listing percentages that showed the fund has doubled in size over the past 11 years, while withdrawals increased by half.
“We are undercutting current generations of children for the mythical future generation of children and watching this fund continue to grow enormously large,” Maestas said.
The Senate Finance Committee is expected to take up the bill Saturday and will hear public comments.
With a week left in the session, the measure would need approval by the full Senate. If any changes are made, the House would have to consider it again before it gets to the governor’s desk.
Similar proposals have failed over the last five legislative sessions.
Democratic Sen. Jacob Candelaria said Thursday he opposes the bill because of the focus on early childhood education. He wants to expand disbursements for K-12 public schools, which state courts have ruled are underfunded.
“I just don’t feel comfortable sending a proposal to the voters that leaves out a very important part of this equation,” Candelaria said.
That sentiment was echoed by House Speaker Brian Egolf, who said he’s confident that the proposal will make it to voters. He said the funding for early childhood education could be reduced to as little as 0.25%
“The question is, will it be 1% for early childhood education or will there be some allocation for K-12 education? I think the Senate very much wants to see a kindergarten-through-12th grade component to this with a special focus on teacher salaries and funding to go to at-risk students,” Egolf said.
On Friday, the Senate was scheduled to debate a $10 million pilot program to send additional funding to school districts based on an “at-risk index” of families that schools serve.
There also are disputes over long-term growth forecasts for the fund, which is fed by oil and gas revenue and annual investment returns.
“We want this (fund) to grow but at the same time, we want to cut the legs off the industry that makes it grow. So I don’t think these numbers are even right,” said Republican Sen. William Sharer of San Juan County, which is home to one of the state’s energy-producing basins.
The federal government created the Land Grant Permanent Fund in the late 19th and early 20th centuries ahead of New Mexico’s transition to statehood to prevent mismanagement of mineral extraction revenues. Its use was dedicated to public schools.
It has grown to around $20 billion, making it one of the largest educational endowments in the world.
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Associated Press writer Morgan Lee contributed to this report.
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Attanasio is a corps member for the Associated Press/ Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on under-covered issues. Follow Attanasio on Twitter.
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