Bill > SB44

This bill creates the "research grants closing fund" in the state treasury, which is a non-reverting fund administered by the Higher Education Department. The fund consists of appropriations, gifts, grants, and other funding sources, and is used to provide researchers at public post-secondary educational institutions with matching funds required to receive research grants from public or private sources. The bill establishes a competitive application process where institutions can apply for closing grants from the fund, which will be reviewed by a panel of experts. The bill also appropriates $10 million from the general fund to the research grants closing fund for expenditure in fiscal year 2022 and subsequent years.

Budget and Finance, Education

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=44&year=21