Bill > SB249

This bill eliminates "impact aid" from the definition of "federal revenue" used in calculating the state equalization guarantee distribution for public school funding in New Mexico. Impact aid refers to federal grants provided to school districts affected by federal activities, such as military bases or Native American reservations, to help offset the loss of tax revenue from non-taxable federal land. By removing impact aid from the definition of federal revenue, this bill would reduce the amount of federal funding that is factored into the state's school funding formula, potentially increasing the state's share of public school financing. The bill applies to the 2021-2022 school year and subsequent years.

Education

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=249&year=21