The bill establishes the Conservation Legacy Permanent Fund and the Land of Enchantment Legacy Fund, detailing their creation, investment, and distribution processes. It mandates that the Conservation Legacy Permanent Fund be invested according to the prudent investor rule, ensuring responsible management of public funds. The bill specifies that a distribution of five percent of the average year-end market values of the permanent fund will be made to the Land of Enchantment Legacy Fund annually, with a slight adjustment for the distribution in 2026, which will be based on the average market value from the preceding two years.

Additionally, the bill outlines the allocation of funds from the Land of Enchantment Legacy Fund to various state departments for specific projects, including forestry, agriculture, environmental improvements, economic development, cultural affairs, and wildlife protection. It also stipulates that any unspent balances from these distributions will revert to the Conservation Legacy Permanent Fund after three fiscal years. Furthermore, the balance of the Land of Enchantment Legacy Fund will be transferred to the Conservation Legacy Permanent Fund, with the provisions of the bill taking effect on July 1, 2026.

Statutes affected:
introduced version: 75-12-1, 75-12-2
Final Version: 75-12-1, 75-12-2