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SANTA FE, N.M. (AP) — New Mexico's state workers and educators are in line for their first across-the-board pay increase in four years under a nearly $5.9 billion state budget signed into law Friday by Gov. Susana Martinez.
The governor used her line-item veto powers to trim less than $2 million from next year's spending in the budget, but she left intact provisions that allocate about $33 million for 1 percent salary increases for public employees, including school workers, in the fiscal year that starts July 1.
Martinez faced a Friday deadline for signings and vetoing bills passed by the Legislature.
Also signed by the governor were measures to:
— Revamp the pension system for nearly 90,000 state and local government workers and retirees. Cost-of-living adjustments will be lowered, and some workers will be required to contribute more to improve the long-term finances of the retirement fund, which has a more than $6 billion gap between its assets and the projected benefits to be paid in the future.
— Allocate $218 million in bond proceeds for capital improvements across the state. Martinez trimmed about $4 million worth of projects with line-item vetoes, which is far less than the $23 million cut last year.
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