If passed, this resolution would significantly alter the manner in which the New Mexico legislature handles budgetary appropriations. The mandatory limit on general fund appropriations would necessitate a thorough evaluation of past spending trends and might lead to stricter fiscal discipline among lawmakers. Moreover, to exceed the proposed limit, a three-fourths majority vote would be necessary in each house, reflecting a more collaborative approach toward budget increases, which may help prevent excessive government spending.
Summary
Senate Joint Resolution 11 (SJR11) proposes an amendment to Article 4 of the New Mexico Constitution aimed at limiting the state's ability to increase general fund appropriations. The proposed amendment stipulates that for fiscal year 2024 and beyond, the legislature would be required to set a general fund appropriation limit that cannot exceed five percent of the average of the preceding ten years' appropriations. This amendment seeks to promote fiscal responsibility by establishing a clear boundary on how much the state government can allocate for its operations each year.
Contention
Despite its intent to instill budgetary caution, SJR11 is likely to face substantial debate and contention. Supporters argue that such a measure is necessary to avoid unsustainable financial practices and to safeguard taxpayer money. Critics, however, may contend that this amendment potentially restricts the legislature's flexibility to respond adequately to unforeseen economic challenges or public needs. The requirement for a supermajority to increase appropriations might lead to struggles in funding vital state services in times of crisis, making the resolution a point of political contention as discussions unfold.
To provide appropriations from the General Fund for the expenses of the Executive, Legislative and Judicial Departments of the Commonwealth, the public debt and the public schools for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide appropriations from special funds and accounts to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide for the appropriation of Federal funds to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; and to provide for the additional appropriation of Federal and State funds to the Executive and Legislative Departments for the fiscal year July 1, 2022, to June 30, 2023, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2022.