This will need to be very specific and detailed within the text of the Chisum Territory Organic Act. The short quick answer is that Initially we would like to finance the Territorial Government without
That would leave us with
Currently gross receipts accounts for about 40% of the state income. Fuel taxes are used for roads bridges etc. Severance taxes will continue to be deposited in a territorial severance tax fund and invested as is the current practice. The income earned from investing those funds will be directed to the general fund. We will continue to have a land grant permanent fund, earnings from that fund will finance our schools as is the current mandated practice. The exact date of the transition will be determined by the date the Organic Act becomes effective law. Multiple plans are being considered. The final plan is far from complete and will be voted on by the Chisum Territorial Alliance Delegates when the Organic Act is approved. Several factors enter into this question such as how much of the current sovereign wealth and surplus funds will Congress transfer from NM to Chisum. NM currently has about 34 billion dollars in our sovereign wealth funds.
Thats the quick answer obviously the specifics and details of the matter will require a massive amount of work by professional accountants and investment experts. Chisum properly structured and managed will be a very wealthy entity. A fully comprehensive plan will be required by Congress before they designate Chisum as a US territory.
We are going straight to US Congress as a remedy for the state's violation of among other issues the guarantee clause. We are not seeking approval from the state of NM or its legislators. Violations of the guarantee clause are by established within the jurisdiction of Congress. The path to seek territorial designation as a remedy is grounded in multiple legal doctrines not limited to but include popular sovereignty, federalism, political question, equal protection and republican form of government. We are exercising our consent to be governed by petitioning congress for removal from the jurisdiction of the state of NM. We are not forming a state from within the jurisdiction of another state nor are we seeking to join another state. We are seeking designation as an incorporated territory of the US. Legal grounds for this request were enumerated in the NM Organic act and brought forth in the NM Enabling act. By state constitution the authority to amend the compact between the state of NM and the US is within the authority of congress and the people.