summary
Introduced
01/17/2017
01/17/2017
In Committee
01/18/2017
01/18/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC SCHOOL FINANCE; LIMITING SCHOOL DISTRICTS' AND CHARTER SCHOOLS' FISCAL YEAR 2016 CASH BALANCES BY TAKING CREDITS AGAINST THEIR FISCAL YEAR 2017 STATE EQUALIZATION GUARANTEE DISTRIBUTIONS; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
AI Summary
This bill limits school districts' and charter schools' fiscal year 2016 cash balances by taking credits against their fiscal year 2017 state equalization guarantee distributions, up to a total of $50 million. The Secretary of Public Education will apply these credits proportionally to each district and school based on their fiscal year 2016 program costs. The bill also declares an emergency, allowing it to take effect immediately.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
[LD 2] Referred to House Appropriations & Finance (on 01/18/2017)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=7&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0007.pdf |
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