45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO EDUCATION; CREATING THE NURSING QUALITY INVESTMENT FUND; MAKING AN APPROPRIATION.

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

Section 1. NURSING QUALITY INVESTMENT FUND--USE.--

A. The "nursing quality investment fund" is created in the state treasury. The fund shall consist of appropriations, gifts, grants and donations made to the fund and shall be administered by the commission on higher education. Earnings from investment of the fund shall be credited to the fund, and balances in the fund at the end of any fiscal year shall not revert to the general fund. Disbursements from the fund shall be made by warrant of the department of finance and administration pursuant to vouchers signed by the executive director of the commission on higher education.

B. Money in the nursing quality investment fund is appropriated to the commission on higher education to develop and administer a program to provide grants to institutions of higher education to implement quality enhancements in nursing education programs, particularly efforts designed to increase the number of graduates from those programs. Institutions of higher education shall apply to the commission on a competitive basis for the grants and shall be required to provide matching funds. The commission shall use no more than two percent of the money appropriated to the fund in any fiscal year for administration of the program. The remaining money in the fund shall be used solely to make grants to institutions of higher education for the implementation of enhancements in nursing education programs in accordance with the provisions of this section.

C. The commission on higher education shall adopt rules for application for and award of grants from the nursing quality investment fund. To assure that funds will be used for innovative new programs that have the maximum impact, the commission shall establish guidelines for selecting projects for funding that give priority to proposals that:

(1) provide a high quality, standards-based experience;

(2) incorporate "best practice" approaches used in New Mexico or nationally;

(3) produce results with the potential for both an immediate and a long-term positive impact on the insufficient supply of nurses for New Mexico;

(4) promote collaborative partnership efforts among universities, community colleges or schools; and

(5) demonstrate an evaluation plan that incorporates state and federal accountability requirements as appropriate.

D. Institutions receiving funds through the nursing quality investment fund shall provide matching funds for projects.

Section 2. APPROPRIATION.--One million two hundred fifty thousand dollars ($1,250,000) is appropriated from the general fund to the nursing quality investment fund for expenditure in fiscal year 2003 and subsequent fiscal years by the commission on higher education to develop and administer a program to make grants to institutions of higher education to implement quality enhancements in nursing education programs. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.