Bill > SB82

This bill modifies the Public School Capital Outlay Act by extending through fiscal year 2027 a provision that reduces local funding shares for some school districts, with a larger reduction for smaller districts. Specifically, for fiscal years 2024-2027, school districts will have their local share reduced by one-third, while districts with fewer than 200 students will have their local share reduced by one-half. The bill removes some of the criteria the Public School Capital Outlay Council must consider when adjusting a school district's local share, streamlining the process for determining funding allocations. The legislation aims to provide more financial flexibility and support for public school capital improvement projects, particularly for smaller and potentially under-resourced school districts. The bill maintains the council's ability to prioritize projects based on statewide adequacy standards, consider the unique needs of different types of schools, and make adjustments for emergency situations that impact student health, safety, or potential property damage. Additionally, the bill ensures continued support for school districts' capital improvement efforts by allowing for various funding mechanisms, including lease-to-own arrangements and the potential purchase of privately owned school facilities.

Education

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=82&year=25