“Raise the Rate” Bill Hearing Scheduled in House Commerce and Economic Development Committee

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“Raise the Rate” Bill Hearing Scheduled in House Commerce and Economic Development Committee

SANTA FE, NM – House Bill 398, the “Raise the Rate” Bill, has been scheduled for consideration by the House Commerce and Economic Development Committee at 1:30 p.m.  Friday, Feb. 15.  Sponsored by Representative Derrick Lente (D-65), the bill seeks to raise the royalty rate on the top performing oil and gas leases on state trust lands to ensure more money is made for New Mexico schools and hospitals.