NM HB184

Requires the Conservation Legacy Permanent Fund to be invested according to the Prudent Investor Rule under the Uniform Prudent Investor Act, with earnings credited back to the fund

Annual distribution of 5% of the permanent fund's average year-end market value (over preceding three calendar years) goes to the Land of Enchantment Legacy Fund, with a special two-year average calculation for July 1, 2026

Distributes the Legacy Fund to six agencies: Energy, Minerals and Natural Resources (22.5%), NM Department of Agriculture (22.5%), Department of Environment (10%), Economic Development (15%), Cultural Affairs (8%), and Department of Wildlife (22%)

Unexpended balances from distributions revert to the Conservation Legacy Permanent Fund three fiscal years after the distribution year

Transfers the current balance of the Land of Enchantment Legacy Fund to the Conservation Legacy Permanent Fund, effective July 1, 2026