Bill > HB555

This bill establishes the "early childhood educator scholarship fund" within the state treasury, which will be managed by the children, youth and families department. The fund's purpose is to provide scholarships to early childhood caregivers and educators in New Mexico who are residents and currently working with children under five, but who have not yet obtained a Child Development Associate (CDA) credential from the Council for Professional Recognition or a New Mexico Child Development Certificate. These scholarships can cover eligible expenses like fees, books, and supplies for programs that help individuals earn these credentials. The department will create rules to determine who is eligible for these awards, and no more than five percent of the fund's total awards can be used for administrative costs each fiscal year, with earnings from the fund's investments being added back to it and money in the fund not reverting to other funds at the end of a fiscal year.