summary
Introduced
01/18/2017
01/18/2017
In Committee
02/01/2017
02/01/2017
Crossed Over
02/03/2017
02/03/2017
Passed
01/28/2017
01/28/2017
Dead
Signed/Enacted/Adopted
01/28/2017
01/28/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC SCHOOL FINANCE; AMENDING THE PUBLIC SCHOOL FINANCE ACT TO CLARIFY THE USE OF THE TERM "SCHOOL DISTRICT" AND THEREBY REQUIRE THE PUBLIC EDUCATION DEPARTMENT TO TAKE CREDIT FOR CHARTER SCHOOLS' FEDERAL IMPACT AID RECEIPTS.
AI Summary
This bill amends the Public School Finance Act to clarify the use of the term "school district" and require the Public Education Department to take credit for charter schools' federal impact aid receipts. Specifically, the bill updates the definition of "federal revenue" to include 75% of a school district or state-chartered charter school's federal impact aid (also known as "PL 874 funds") when calculating the state equalization guarantee distribution. This ensures that charter schools' federal impact aid is properly accounted for in the funding formula, providing more transparency and parity in public school finance.
Committee Categories
Budget and Finance, Education
Sponsors (1)
Last Action
[LD 12] Signed by the Governor - Chapter 78 (on 01/28/2017)
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=S&legtype=B&legno=135&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/final/SB0135.pdf |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/senate/SB0135.pdf |
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