SENATE BILL 811

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

Steve Komadina

AN ACT

RELATING TO PUBLIC SCHOOLS; PROVIDING FUNDING FOR SCHOOL DISTRICTS TO PREPARE FOR NEW SCHOOL OPENINGS; CREATING A FUND; PROVIDING AN APPLICATION PROCESS; MAKING AN APPROPRIATION.

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

     Section 1. A new section of the Public School Finance Act is enacted to read:

     "[NEW MATERIAL] NEW SCHOOLS FUND--CREATED--APPLICATIONS.--

          A. The "new schools fund" is created in the state treasury. The fund consists of appropriations, income from investment of the fund, gifts, grants, donations and any other money credited to the fund. Money in the fund shall not revert to any other fund at the end of a fiscal year. The fund shall be administered by the public education department and money in the fund is appropriated to the department to assist school districts in start-up costs for new schools that are not charter schools. Expenditures from the fund shall be by warrants drawn by the secretary of finance and administration on vouchers signed by the secretary of education or the secretary's authorized representative.

          B. A school district may apply to the department for money from the new schools fund to pay start-up costs of a new school, including employment of the school principal and other necessary staff prior to the opening of the new school, furnishings and equipment, technology, instructional materials and library resources. The application shall be in the form required by rule of the department. The department shall evaluate the applications and may fund all or a part of an application based on rules of the department, which may provide for proportionate share based on number of applications and money in the fund and other factors adopted by rule."

     Section 2. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the new schools fund for expenditure in fiscal year 2005 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.

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