46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO HIGHER EDUCATION; CREATING THE WORK FORCE SKILLS DEVELOPMENT FUND; PROVIDING MATCHING FUNDS FOR COMMUNITY COLLEGE PROGRAMS; MAKING AN APPROPRIATION.

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

Section 1. WORK FORCE SKILLS DEVELOPMENT FUND CREATED--ALLOCATIONS--APPLICATION REVIEW PANELS.--

A. The "work force skills development fund" is created in the state treasury. The fund shall consist of appropriations, income from investment of the fund, gifts, grants, donations and bequests. Money in the fund shall not revert at the end of any fiscal year. The fund shall be administered by the commission on higher education and money in the fund is appropriated to the commission to provide matching funds to community colleges for the development, expansion and support of broad-based entry-level high-skills training programs. Money from the fund shall be expended on warrants of the secretary of finance and administration upon vouchers signed by the executive director of the commission on higher education or his authorized representative.

B. Community colleges may apply for matching grants from the work force skills development fund in accordance with rules promulgated by the commission on higher education. Allocations from the fund shall be based on a competitive process with applications reviewed by a panel of education, business and labor experts established by the commission. To apply for a grant, a community college must have equal or greater matching funds for the proposal from sources other than the state.

Section 2. APPROPRIATION.--Three hundred thousand dollars ($300,000) is appropriated from the general fund to the work force skills development fund for expenditure in fiscal year 2004 and subsequent fiscal years to provide matching funds for community college high-skills training programs. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to any other fund.