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

RELATING TO EDUCATION; CREATING A STUDENT TEACHER SCHOLARSHIP PROGRAM; CREATING A FUND; MAKING AN APPROPRIATION.

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

Section 1. SCHOLARSHIP PROGRAM ESTABLISHED.--

A. In order to encourage people to enter the teaching profession and to retain teachers in New Mexico, the commission on higher education shall promulgate rules to establish and administer a student teacher scholarship program.

B. In establishing the program, the commission on higher education shall:

(1) develop standardized methods to identify eligible student teachers and to distribute money to accredited teacher training institutions;

(2) develop criteria for selection of scholarship recipients, which shall include academic performance, campus involvement, letters of recommendation and personal commitment to the teaching profession;

(3) pay full tuition for recipients for the semesters in which they are student teaching; and

(4) ensure that recipients comply with all rules adopted by the commission for the scholarship program.

Section 2. STUDENT TEACHER SCHOLARSHIP FUND CREATED.--

The "student teacher scholarship fund" is created in the state treasury. Money in the fund shall not revert at the end of a fiscal year. Money appropriated to the fund or accruing to it through gifts, grants, bequests and devices shall be deposited in the fund. The fund shall be invested as other state funds are invested and income from investment of the fund shall be credited to the fund. Money in the fund is appropriated to the commission on higher education to carry out the purposes of Section 1 of this act. Disbursements from the fund shall be made on warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the executive director of the commission on higher education or his authorized representative. The commission may use no more than three percent of the money in the fund for administration.

Section 3. APPROPRIATION.--Five hundred thousand dollars ($500,000) is appropriated from the general fund to the student teacher scholarship fund for expenditure in fiscal year 2004 and subsequent fiscal years to carry out the purposes of the fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.