Bill > SB178

This bill requires school districts with over two thousand students to allocate at least ninety percent of the money they receive from the state equalization guarantee distribution, which is funding based on student needs and program units, directly to the public schools that generate it. If a school district fails to meet this allocation requirement, its unrestricted cash balances, which are funds not designated for specific purposes, will be limited based on the school district's program cost. Additionally, all school districts and charter schools must develop and use three-year "evidence-based spending plans" that utilize state equalization guarantee distribution funds to improve academic outcomes for at-risk students, including Native American, low-income, English learner, and special education students, using culturally and linguistically relevant approaches. The Public Education Department will provide tools to help create these plans and will track student progress, with the ability to intervene if schools don't make adequate progress, potentially by bringing in expert administrators or teachers to revamp programming. Schools that do meet or exceed progress goals will be eligible for additional discretionary funding for these student groups. The bill also modifies financial reporting requirements to include information on how funds are allocated to improve outcomes for these specific student populations and mandates that these reports be posted online. These provisions will apply from the 2026-2027 through the 2030-2031 school years, with Sections 1 and 2 being repealed thereafter.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=178&year=26