Bill > HB254

This bill, titled the "Lottery Tuition Fund Act," establishes a new framework for the state's lottery scholarship program, aiming to ensure its long-term financial stability and clarify eligibility requirements. It defines key terms like "qualified student" (a New Mexico high school graduate or equivalency holder who attends a public college or university) and "legacy student" (someone who previously received the lottery scholarship for a significant period). The bill mandates the creation of a standardized scholarship application form and requires the Higher Education Department (the "department") to annually determine the scholarship amounts based on legislative appropriations and projected enrollment, adjusting them to maintain the fund's solvency. Students must apply and file a federal student aid application to be considered. The bill outlines specific eligibility criteria for both qualified and legacy students, including maintaining New Mexico residency, a minimum GPA of 2.5, and completing at least 12 credit hours per semester, with provisions for students with disabilities to receive reasonable accommodations. Scholarship amounts will be determined by a combination of unmet financial need and academic merit, with different award ranges for various types of public post-secondary institutions. The bill also repeals older laws related to the lottery scholarship and makes the act effective immediately for the public peace, health, and safety.