0001|                           SENATE BILL 324
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                             CYNTHIA NAVA
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO EDUCATION; AMENDING THE DEFINITION OF CAPITAL
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0012|     IMPROVEMENTS IN THE PUBLIC SCHOOLS CAPITAL IMPROVEMENTS ACT
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0013|     AND THE PUBLIC SCHOOL BUILDINGS ACT TO INCLUDE LEASE-PURCHASE
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0014|     DEBT SERVICE FOR EDUCATIONAL TECHNOLOGY; DECLARING AN
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0015|     EMERGENCY.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|          Section 1.  Section 22-25-2 NMSA 1978 (being Laws 1975
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0019|     (S.S.), Chapter 5, Section 2, as amended) is amended to read:
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0020|          "22-25-2.  DEFINITIONS.--As used in the Public School
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0021|     Capital Improvements Act:
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0022|               A.  "program unit" means the product of the program
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0023|     element multiplied by the applicable cost differential factor,
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0024|     as defined in Section 22-8-2 NMSA 1978; and
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0025|               B.  "capital improvements" means expenditures:
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<center>- 1 -</center>

0001|                    <u>(1)</u>  exclusive of any debt service expenses,
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0002|     for:
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0003|                         <s>[(1)]</s> <u>(a)</u>  erecting, remodeling,
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0004|     making additions to, providing equipment for or furnishing
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0005|     public school buildings;
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0006|                         <s>[(2)]</s> <u>(b)</u>  purchasing or improving
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0007|     public school grounds;
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0008|                         <s>[(3)]</s> <u>(c)</u>  maintenance of public
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0009|     school buildings or public school grounds, exclusive of salary
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0010|     expenses of school district employees;
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0011|                         <s>[(4)]</s> <u>(d)</u>  purchasing activity
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0012|     vehicles for transporting students to extracurricular school
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0013|     activities; and
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0014|                         <s>[(5)]</s> <u>(e)</u>  purchasing computer
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0015|     software and hardware for student use in public school
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0016|     classrooms; <u>and
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<u></u>0017| <u>                   (2)  inclusive of debt service expenses on
</u>    |
<u></u>0018| <u>    lease-purchase agreements for educational technology that are
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<u></u>0019| <u>    entered into pursuant to the Education Technology Equipment
</u>    |
<u></u>0020| <u>    Act and that do not exceed the term of the property tax
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<u></u>0021| <u>    imposed pursuant to the Public School Capital Improvements
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<u></u>0022| <u>    Act</u>."
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0023|          Section 2.  Section 22-26-2 NMSA 1978 (being Laws 1983,
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0024|     Chapter 163, Section 2) is amended to read:
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0025|          "22-26-2.  DEFINITIONS.--As used in the Public School
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<center>- 2 -</center>

0001|     Buildings Act, "capital improvements" means expenditures,
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0002|     exclusive of any debt service expenses, for:
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0003|               A.  erecting, remodeling, making additions to,
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0004|     providing equipment for or furnishing public school buildings;
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0005|     <s>[and]</s>
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0006|               B.  purchasing or improving public school grounds;
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0007|     <u>and
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<u></u>0008| <u>              C.  debt service expenses on lease-purchase
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<u></u>0009| <u>    agreements for educational technology that are entered into
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<u></u>0010| <u>    pursuant to the Education Technology Equipment Act and that do
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<u></u>0011| <u>    not exceed the term of the property tax imposed pursuant to
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<u></u>0012| <u>    the Public School Buildings Act</u>."
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0013|          Section 3.  EMERGENCY.--It is necessary for the public
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0014|     peace, health and safety that this act take effect
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0015|     immediately.
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0016|                              
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