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

RELATING TO HIGHER EDUCATION; CREATING THE NAVAJO CODE TALKER SCHOLARSHIP FUND; 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 "Navajo code talker scholarship fund" is created in the state treasury. The earnings from investment of the fund and money in the fund are appropriated to the commission on higher education to award scholarships to any Native American student residing in New Mexico and meeting criteria established by the commission. Money in the Navajo code talker 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 Navajo code talker scholarships to 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 shall 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 Navajo code talker scholarship fund may receive money from appropriations, grants, bequests, gifts or other allocations directed to the fund or deposited with the state to provide scholarships for Native American students residing in New Mexico.

C. The commission on higher education shall administer the Navajo code talker scholarship fund and make all disbursements from the fund to Navajo code talker scholarship recipients.

D. The commission on higher education shall prepare guidelines setting forth explicit student eligibility criteria and guidelines for administration of the Navajo code talker scholarship program that will include consideration of any student entering an appropriate post-secondary educational institution for the first time or as a returning student."

Section 2. APPROPRIATION.--Five hundred thousand dollars ($500,000) is appropriated from the general fund to the Navajo code talker scholarship fund for expenditure in fiscal year 2001 and subsequent fiscal years to provide Navajo code talker scholarships to Native American students residing in New Mexico. Any unexpended or unencumbered balance remaining at the end of any fiscal year shall not revert.