A bill to amend the Act of June 20, 1910, to protect the permanent trust funds of the State of New Mexico from erosion due to inflation and modify the basis on which distributions are made from those funds.
New Mexico Statehood and Enabling Act Amendments of 1997 - Amends Federal law to provide for distributions from the permanent trust funds of New Mexico, including all interest, dividends, other income, and appreciation in the market value of assets of the funds to be prudently invested on a total rate of return basis, and to be made as provided in the Constitution of the State of New Mexico.
Declares that the Congress consents to the amendments to the Constitution of the State of New Mexico approved by the voters of New Mexico on November 5, 1996.
Subcommittee Hearings Held.
Committee on Energy and Natural Resources. Reported to Senate by Senator Murkowski without amendment. With written report No. 105-18.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 53.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S4919)
Passed Senate without amendment by Unanimous Consent. (consideration: CR S4919)
Received in the House.
Message on Senate action sent to the House.
Referred to the House Committee on Resources.
Referred to the Subcommittee on National Parks and Public Lands.
Mr. Saxton moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H5834-5836)
DEBATE - The House proceeded with forty minutes of debate.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
Enacted as Public Law 105-37
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On motion to suspend the rules and pass the bill Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 105-37.
Became Public Law No: 105-37.