SENATE BILL 211

56th legislature - STATE OF NEW MEXICO - second session, 2024

INTRODUCED BY

Michael Padilla

 

 

 

 

 

AN ACT

RELATING TO FINANCE; CREATING THE SCIENCE EDUCATION PROMOTION FUND; REQUIRING THE ECONOMIC DEVELOPMENT DEPARTMENT TO PROVIDE GRANTS; MAKING AN APPROPRIATION.

 

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

     SECTION 1. [NEW MATERIAL] SCIENCE EDUCATION PROMOTION FUND--CREATED--ECONOMIC DEVELOPMENT DEPARTMENT--GRANTS TO INSTITUTIONS.--

          A. As used in this section:

                (1) "fund" means the science education promotion fund;

                (2) "institution" means:

                     (a) a state educational institution provided pursuant to Article 12, Section 11 of the constitution of New Mexico; and

                     (b) a public elementary, middle, junior high or high school; and

                (3) "strategic plan" means a five-year plan proposed by an institution to increase the institution's educational curriculum, degree offerings at the institution or graduates from the institution in any of the following fields:

                     (a) aerospace;

                     (b) bioscience;

                     (c) cybersecurity;

                     (d) renewable energy;

                     (e) intelligent manufacturing; and

                     (f) agriculture.

          B. The "science education promotion fund" is created in the state treasury. The fund consists of appropriations, gifts, grants, donations and income from investment of the fund. Money in the fund at the end of a fiscal year shall not revert to any other fund. The fund shall be administered by the economic development department, and money in the fund is appropriated to the economic development department to make grants to institutions to develop and carry out a strategic plan.

          C. Money in the fund shall be disbursed on warrants signed by the secretary of finance and administration pursuant to vouchers signed by the secretary of economic development or the secretary's authorized representative.

          D. Institutions may apply for grants to develop and carry out a strategic plan in a form and manner determined by the economic development department. The economic development department shall promulgate rules as necessary to implement this section, including to:

                (1) develop a form for applications for grants;

                (2) approve grant applications;

                (3) provide additional grants to institutions that demonstrate fulfillment of the institution's strategic plan; and

                (4) oversee the use of grant funding, including developing metrics to determine the success of institutions in implementing the institution's strategic plan.

     SECTION 2. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the science education promotion fund for expenditure in fiscal year 2025 and subsequent fiscal years to carry out the purposes of the science education promotion fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

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