45th legislature - STATE OF NEW MEXICO - second session, 2002
RELATING TO HIGHER EDUCATION; ADDING A PROVISION TO THE WORK-STUDY ACT TO PERMIT AN ELIGIBLE INSTITUTION TO TRANSFER A PART OF ITS WORK-STUDY FUNDS TO ITS STATE STUDENT INCENTIVE GRANT PROGRAM; AMENDING THE WORK-STUDY ACT TO UPDATE ITS PROVISIONS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Section 21-21B-1 NMSA 1978 (being Laws 1982, Chapter 88, Section 1) is amended to read:
"21-21B-1. SHORT TITLE.--[This act] Chapter 21, Article
21B NMSA 1978 may be cited as the "Work-Study Act"."
Section 2. Section 21-21B-2 NMSA 1978 (being Laws 1982, Chapter 88, Section 2) is amended to read:
"21-21B-2. DEFINITIONS.--As used in the Work-Study Act:
A. ["board"] "commission" means the [board of
educational finance] commission on higher education; and
B. "institution" means any state post-secondary educational institution and any private nonprofit post-secondary educational institution within New Mexico."
Section 3. Section 21-21B-4 NMSA 1978 (being Laws 1982, Chapter 88, Section 4) is amended to read:
"21-21B-4. FUND--ALLOCATION.--Funds appropriated to the
work-study fund shall be allocated by the [board] commission
to eligible institutions for their use in employing eligible
students."
Section 4. Section 21-21B-5 NMSA 1978 (being Laws 1982, Chapter 88, Section 5) is amended to read:
"21-21B-5. DISBURSEMENT OF FUNDS.--The [board]
commission shall assure that expenditures from the work-study
fund are apportioned equitably among eligible institutions."
Section 5. Section 21-21B-6 NMSA 1978 (being Laws 1982, Chapter 88, Section 6) is amended to read:
"21-21B-6. PROGRAM--DESCRIPTION.--Any student who is
eligible under Section [7 of the Work-Study Act] 21-21B-7 NMSA
1978 may apply for work-study employment, but the [board must]
commission shall expend at least one-third of the money from
the work-study fund in any one academic year for applicants
chosen on the basis of monetary need criteria set by the
[board] commission. The institution [which] that the student
attends shall arrange employment. Employment is limited to
post-secondary nonprofit institutions, state political
subdivisions, state agencies and nonprofit organizations
[which] that are approved by the [board] commission. The
employer [must] shall pay at least twenty percent of the
salary and benefits of the student."
Section 6. A new section of Chapter 21, Article 21B NMSA 1978 is enacted to read:
"[NEW MATERIAL] TRANSFER OF FUNDS FROM STATE WORK-STUDY ALLOCATION TO STATE STUDENT INCENTIVE GRANT PROGRAM.--If an eligible institution receives both work-study funds and state student incentive grant funds, it may transfer up to twenty-five percent of the work-study funds to the state student incentive grant program for expenditure in accordance with requirements of that program. Any unexpended or unencumbered balance of work-study funds transferred shall revert to the work-study fund at the end of the fiscal year. An institution making a transfer and expending work-study funds as permitted in this section shall report to the commission the detailed student-level expenditures of the transferred funds at the end of the fiscal year in which funds were expended."