Bill > HB8

This bill establishes the "Higher Education Major Projects Fund" to support significant capital improvements at New Mexico's educational institutions, including universities and community colleges. The fund, administered by the Higher Education Department, can be used for major projects like research and instruction facilities, student housing, and "student life projects" (which are defined as non-academic facilities that enhance the student experience, such as recreation centers and dining halls). While generally requiring educational institutions to contribute a portion of the project cost (a "match requirement") from non-state sources, the bill allows for these match requirements to be waived if an institution demonstrates it cannot afford them, though such waivers must be approved by the legislature. The bill also outlines specific initial priorities for funding, including projects at the University of New Mexico, New Mexico State University, and student housing and life projects statewide, with certain conditions for athletic facilities and graduation rates.

Budget and Finance, Education

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=8&year=26