AN ACT

RELATING TO TEACHER LOANS FOR SERVICE; ALLOWING COSTS OF TWO-YEAR POST-SECONDARY EDUCATION IN AN EDUCATION TRANSFER MODULE TO QUALIFY FOR LOANS AS PART OF THE TEACHER PREPARATION PROGRAM.

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

     Section 1. Section 21-22E-1 NMSA 1978 (being Laws 2001, Chapter 288, Section 1) is amended to read:

     "21-22E-1. SHORT TITLE.--Chapter 21, Article 22E NMSA 1978 may be cited as the "Teacher Loan for Service Act"."

     Section 2. Section 21-22E-3 NMSA 1978 (being Laws 2001, Chapter 288, Section 3) is amended to read:

     "21-22E-3. DEFINITIONS.--As used in the Teacher Loan for Service Act:

          A. "commission" means the commission on higher education;

          B. "loan" means a payment of money under contract between the commission and a student that defrays the costs incidental to a teacher preparation program offered in a regionally accredited post-secondary educational institution in New Mexico and that requires repayment in services;

          C. "student" means a United States citizen who is enrolled in or accepted by an undergraduate or graduate teacher preparation program at a regionally accredited post-secondary educational institution in New Mexico; and

          D. "teacher preparation program" means a program that has been formally approved as meeting the requirements of the public education department and that leads to initial licensure or to additional licensure endorsements, including a program in a two-year post-secondary educational institution that meets the requirements for a teacher education transfer module established pursuant to Subsection C of Section 21-1B-4 NMSA 1978."

HB 173

Page 2