HOUSE BILL 64

49th legislature - STATE OF NEW MEXICO - second session, 2010

INTRODUCED BY

Rick Miera

AN ACT

RELATING TO PUBLIC SCHOOL FINANCE; ALLOWING THE STATE EQUALIZATION GUARANTEE DISTRIBUTION PROGRAM UNIT VALUE TO BE SET AT A DATE LATER THAN JANUARY 31, 2010; PROVIDING FOR ADJUSTMENT IN ANTICIPATION OF FEDERAL STATE FISCAL STABILIZATION FUNDING; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. TEMPORARY PROVISION--STATE EQUALIZATION GUARANTEE DISTRIBUTION PROGRAM UNIT VALUE--ADJUSTMENT DATE CHANGED.--Notwithstanding the provisions of the General Appropriation Act of 2009, the secretary of public education may adjust the 2009-2010 school year program unit value at a date later than January 31, 2010. The secretary may adjust the unit value after receipt of approval to use state fiscal stabilization funds for a portion of the state equalization guarantee distribution.

     Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

- 2 -