What has changed with the passage of amendment 2?
The annual payout has increased. Whereas the state could only access 4.7 percent of the fund’s five-year average market value, that percentage increased to 5.8 percent for eight years with the passage of Amendment 2. The distribution drops to 5.5 for four years after that and drops to 5 percent thereafter. During the 12 years of the new percentages, the Legislative Council estimates that schools will get about $778 million more. If the fund’s five-year market value drops below $5.8 billion the distribution can’t exceed 5 percent. Where is the new money going? The Legislature passed laws to give education a major overhaul. Part of that includes a new three-tier licensing system. There’s also increased teacher evaluations and more streamlined testing programs. Who was for it? AFT New Mexico was a strong supporter of amendment 2. Governor Richardson, a Democrat, and U.S. Sen. Pete Domenici, an Albuquerque Republican, were the amendment’s best-known supporters. Other supporters included fo
Related Questions
- How would passage of the amendment to the state constitution impact civil unions within Michigan? How would it impact employers currently offering domestic partner benefits?
- I received a revised amendment which indicates that the tenants rent portion has changed. What occurred?
- What percentage of a general vote is required for the passage of a state constitutional amendment?
