NEW MEXICO IS RIDING THE OIL BOOM RIGHT NOW…WITH STATE REVENUE COLLECTIONS FOR THE FISCAL YEAR UP MORE THAN 580-MILLION DOLLARS THROUGH MARCH. THAT MEANS MORE MONEY FOR STATE PROGRAMS. BUT SENATOR JOHN ARTHUR SMITH, THE VICE CHAIRMAN OF THE LEGISLATIVE FINANCE COMMITTEE, WARNS THAT THE OIL MARKET CAN BE VERY VOLATILE.
SMITH TELLS NEWSRADIO KKOB MUCH OF THE REVENUE BOOST IS DUE TO A HUGE SURGE IN GROSS RECEIPTS TAXES IN EDDY AND LEA COUNTIES…THE HEART OF OIL COUNTRY IN NEW MEXICO.
