44th legislature - STATE OF NEW MEXICO - second session, 2000

RELATING TO HIGHER EDUCATION; CREATING THE NATIVE AMERICAN SCHOLARSHIP FUND; PROVIDING FOR A DISTRIBUTION TO THE FUND OF A PORTION OF REVENUE RECEIVED PURSUANT TO REVENUE-SHARING AGREEMENTS BETWEEN TRIBES AND THE STATE; MAKING AN APPROPRIATION.

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

Section 1. A new section of Chapter 21 NMSA 1978 is enacted to read:

"[NEW MATERIAL] FUND CREATED--ADMINISTRATION--PURPOSE.--

A. The "Native American scholarship fund" is created in the state treasury. Money in the fund is appropriated to the commission on higher education to award scholarships to qualified Native American students residing in New Mexico. Money appropriated to the Native American scholarship fund shall not be expended but shall be invested by the commission on higher education in coordination with the state investment council and the state treasurer's office. Money in the fund at the end of a fiscal year shall not revert. Income earned from investment of the fund shall be expended by the commission on higher education for the purpose of providing scholarships to Native American students at two-year or four-year post-secondary educational institutions. For purposes of this section, two-year or four-year post-secondary educational institutions include public educational institutions located in New Mexico or a New Mexico campus or branch created by an Indian nation, tribe or pueblo or by the federal government and accredited by the north central accrediting association.

B. The commission on higher education shall administer the Native American scholarship fund and make all disbursements from the fund to scholarship recipients.

C. The commission on higher education shall prepare guidelines setting forth explicit student eligibility criteria and guidelines for administration of the Native American scholarship program."

Section 2. [NEW MATERIAL] RECEIPTS PURSUANT TO REVENUE-SHARING AGREEMENTS--TRANSFER TO THE NATIVE AMERICAN SCHOLARSHIP FUND.--

A. Upon the receipt of a payment from an Indian nation, tribe or pueblo pursuant to a revenue-sharing agreement entered into pursuant to Section 11-13-2 NMSA 1978 or any other agreement that provides for the state to receive a share of the net win from Indian gaming revenue, an amount equal to five percent of the payment received by the state shall be transferred from the general fund to the Native American scholarship fund.

B. The provisions of Subsection A of this section apply to all payments received after the effective date of this section, including those due, but not received, before the effective date."