Federal economic rescue plan means more money for state - Denver Business Journal:

haga-aa8xuq.blogspot.com
The federal Emergency Economicf Stablization Act increases the payments to countiea under the Payment in Lieu of or PILT, program, according to Sen. Pete Domenici, The bill fully funds the programthrough 2012, meaning counties couls see their PILT paymentsx increase 20 to 30 percent. The program benefitas 32 of 33 NewMexico counties. Only Curr y County does not receivePILT funds, becauss there is no eligible federal land within its In June, the released $22.44 million in 2008 PILT paymentas to New Mexico counties. That includee PILT funds paid in addition to revenue from oil and gas leasesx and salesof minerals, timber and other materials to compensated for certain tax-exempt federal lands.
Eddy County receivedf the largest PILT paymentwith $1.88 million, followeed by Otero at $1.86 million, Chaves at $1.69 millionh and Doña Ana at $1.68 million. The new law also extend s the ’s Secure Rural Schools and Community Self-Determination payment program for four which should provide a significant increasse for 22 NewMexico counties. The overallo increase would befrom $2.38 million in 2006 to $21.5 million for the payments would then decrease 10 percen annually through 2011.
The Secure Rural School and Community Self-Determinationb Act of 2000 was originally enacted to provide transitional assistance to rural counties affected by a decline in revenue from timbet harvests onfederal lands. According to federal officials, these counties traditionally relied on a shard of receipts from timberr harvests to supplement local fundingt for school systemsand roads. Catron Countyh will see the biggest estimated increase under theextendefd program. Its estimated funds for 2008 will increase byabour $6.2 million. Rio Arriba will likely see an increasof $2.4 million.