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SANTA FE — New Mexico lawmakers are sending Gov. Michelle Lujan Grisham a proposal that would raise the statewide minimum wage to $12 an hour by 2023.

It’s the product of a late-night agreement struck in the final days of the legislative session.

The Senate adopted the agreement late Thursday, and the House signed off in the early-morning hours Friday.

Lujan Grisham helped negotiate the proposal with lawmakers after the two chambers adopted different proposals and couldn’t agree on identical legislation.

The $12 level is higher than what had been approved in the Senate, but it doesn’t have the inflation adjustments sought by the House.

The sponsors of the two competing proposals — Rep. Miguel Garcia, D-Albuquerque, and Sen. Clemente “Meme” Sanchez, D-Grants — announced the deal during a conference committee meeting Thursday, saying they’d each agreed to give a little as part of a compromise.