New Mexico governor says permanent fund is off limits

SANTA FE, N.M. (AP) – New Mexico Gov. Susana Martinez wants incoming state lawmakers to know that the state’s land grant permanent fund should be off-limits from efforts to resolve a budget deficit.
Martinez and other members of the State Investment Council that oversee the investment of $20.8 billion in state assets discussed Tuesday ways to inform newly elected legislators that the State Land Grant Permanent Fund is an endowment and not a rainy-day fund for use in lean budget years