There won’t be any local road repairs, senior center vehicles or shade structures at schools coming from New Mexico lawmakers this year. There’s simply not enough money to sell more than about $63 million in severance tax bonds this year because of the decline in oil and gas revenue nationwide. That’s according to the sponsor of the annual capital outlay bill, Sen. Carlos Cisneros, D-Questa. “It would be a frivolous attempt for us to try to distribute that among 112 members,” Cisneros said. “If anything, right now we’re looking at using it for statewide needs.”
And the amount available won’t go far on statewide requests, which total $359 million.