NM HB88

Raises the annual revenue threshold for land grants-mercedes to receive a full distribution from $50,000 to $100,000, and adjusts the 75% distribution threshold from $50,000-$250,000 to $100,000-$250,000

Makes the land grant-merced assistance fund nonreverting, eliminating the previous requirement that excess funds revert to the general fund at fiscal year end

Requires the state auditor to provide a list of Audit Act-compliant land grants-mercedes to the land grant council by September 1 of each year

State treasurer must distribute funds to qualified land grants-mercedes within 30 days of receiving the certified list from the land grant council

Effective date is July 1, 2026