IPANM (Dec. 12, 2022) – The state’s projected revenue for the 2024 fiscal year is close to $12 billion — including $3.6 billion in “new money”. Revenue growth estimates for fiscal year 2024 are 42.7 percent greater than the roughly $8.5 billion budget for the current year.
The new money surge is directly linked to the boom in oil & gas production in New Mexico according to a Legislative Finance Committee report released to the Legislative Finance Committee on Dec. 12, 2022.
