NM Early Childhood Education and Care Fund

Dedicated Funding Streams

  • Oil and Gas Revenue

New Mexico

In 2022, New Mexico passed House Bill 83, which established the Early Childhood Education and Care Fund, an investment of $300 million in the state’s future through early childhood development and education. This endowment is managed by the State Investment Council. In FY 2022, the Fund distributed $20 million to the Early Childhood Education & Care Department (ECECD). In FY 2023, the fund began distributing $30 million annually, or 5 percent of its three-year average, to the ECECD. The fund is dedicated to enhancing the quality and accessibility of early childhood services for children from birth to age five. It allocates resources to a variety of programs, including early learning facilities, health services, family support, and professional development for educators. Specifically, the funds go toward improving existing child care and early education centers, developing new facilities, and ensuring that educators are well-trained to provide high-quality early childhood experiences.

Sources:

https://www.sic.state.nm.us/investments/permanent-funds/early-childhood-education-and-care-fund/

https://www.governor.state.nm.us/2020/02/18/governor-creates-early-childhood-trust-fund/

https://nmchildrenstrust.org/

Connections to Key Early Learning Study at Harvard (ELS@H) Findings:

High-quality, affordable early education and care supports children’s healthy development and allows families to work, engage in their own educational pursuits, and/or participate in other aspects of community life. To support children and families in these instrumental ways, research suggests there is a need to expand the availability of early education opportunities across the mixed-delivery system.

Findings from the Early Learning Study at Harvard (ELS@H) show:

– Families rely on a range of formal (e.g., Head Start, center-based care, public pre-K) and more informal (e.g., home-based, relative care) early education settings; when choosing a setting for their child, families balance many logistical constraints and personal preferences.
– But for many families – and especially low- and middle-income families – early education choices remain tightly constrained due to issues of affordability and supply.

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  • The state population is 2,113,344
  • The unemployment rate of parents is 7%
  • The median family income among households with children is $58,700