AN ACT
RELATING TO HIGHER EDUCATION; CREATING
THE HIGHER EDUCATION PERFORMANCE FUND TO FUND ACHIEVEMENT AT PUBLIC
POST-SECONDARY EDUCATIONAL INSTITUTIONS; PROVIDING POWERS AND DUTIES.
BE IT ENACTED BY THE LEGISLATURE OF
THE STATE OF NEW MEXICO:
Section 1. HIGHER EDUCATION PERFORMANCE
FUND--CREATED--ADMINISTRATION--DISTRIBUTIONS.--
A. The "higher education performance
fund" is created in the state treasury.
The fund consists of appropriations, gifts, grants, donations and income
from investment of the fund. Money in
the fund shall not revert to any other fund.
The fund shall be administered by the commission on higher education and
money in the fund is appropriated to the commission for distributions to public
post-secondary educational institutions.
B. The commission shall distribute money in the
fund annually to each public post-secondary educational institution that met
its performance standards in the preceding year.
C. The commission shall develop rules for the
assessment of performance measures and standards for public post-secondary
educational institutions and shall annually assess the performance of each
institution according to those measures and standards.