Bill > SB347

This bill, titled the "Legislative Lottery Tuition Scholarship Act," establishes and defines terms related to a scholarship program funded by lottery revenue to assist students in New Mexico. It outlines eligibility criteria for "qualified students" (high school graduates or GED recipients who attend a public post-secondary institution and maintain a minimum GPA and credit hours) and "legacy students" (those who previously received the scholarship). The bill specifies that the "lottery tuition fund" will be used to provide these "tuition scholarships," which cover tuition assistance per semester. It details how the "department" (higher education department) will determine scholarship amounts based on available funds and projected enrollment at various "public post-secondary educational institutions," including "community colleges," "comprehensive institutions" (like Eastern New Mexico University), and "research institutions" (like the University of New Mexico). The bill also mandates rulemaking and reporting requirements for the department regarding the scholarship program and includes an appropriation to supplement the lottery tuition fund, while also repealing some older scholarship provisions.