Bill > SB75

This bill aims to limit the growth of administrative expenditures by school districts and charter schools in New Mexico. Starting from the 2023-2024 school year, school districts and charter schools will not be able to submit an operating budget that includes administrative expenditures exceeding the current year's administrative expenditures plus the lesser of either the increase in the consumer price index or the percentage increase in the program cost. The department may waive this limitation for schools that have low administrative expenditures per student, are in the top 10% for student performance, or have been newly authorized within the past 5 years. The department is also prohibited from approving budgets or budget adjustments that do not comply with the administrative expenditure growth limitation, except for those granted a waiver.

Education

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=75&year=22