Stephanie Garcia Richard
Commissioner of Public Lands

State Land Office News:

• • • • • Saves taxpayers around $3,000 a year

SANTA FE – The New Mexico State Land Office (NMSLO), led by Commissioner Stephanie Garcia Richard, continues its streak of historic revenue, earning the second highest amount of total revenue for a single year in the agency’s history, bringing in nearly $2.6 billion in fiscal year (FY) 2025, New Mexico Commissioner of Public Lands Stephanie Garcia Richard announced today. 

This year’s total came up just short of the all-time record set in FY 2023, when the NMSLO earned $2.75 billion. The agency crossed the $1 billion threshold for the first time ever in Commissioner Garcia Richard’s first year in office, FY 2019, and has surpassed that mark every year since. Overall, the agency has earned almost $14 billion since Commissioner Garcia Richard first took office.

The money that the State Land Office earns from leasing state trust lands helps fund New Mexico’s public schools, universities, and hospitals. This revenue saves the average New Mexico taxpayer about $3,000 a year they would otherwise have to pay to fund these institutions.

“I don’t mind coming in second to our own record if that means an extra $2.6 billion for schools,” Commissioner Garcia Richard said. “We have consistently broken revenue records while at the same time ensuring that companies clean up after themselves and that state lands are restored for future use. We’re also making billions of dollars while advancing clean energy projects, creating much-needed affordable housing, creating jobs throughout the state and protecting our cherished landscapes.”

About the State Land Office:

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised more than $13 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.