SENATE BILL 103

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

Vernon D. Asbill

FOR THE LEGISLATIVE EDUCATION STUDY COMMITTEE

AND THE FUNDING FORMULA STUDY TASK FORCE

AN ACT

MAKING AN APPROPRIATION TO ASSIST SMALL SCHOOL DISTRICTS WITH OPERATIONAL EXPENSES.

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

     Section 1. APPROPRIATION.--Three million five hundred thousand dollars ($3,500,000) is appropriated from the general fund to the public education department for expenditure in fiscal years 2006 and 2007 to assist school districts with memberships of two hundred or fewer to cover required operational expenditures, including any legislatively mandated salary or other requirements for which appropriated program cost is insufficient. Eligible school districts shall apply for and document the need for an allocation from this appropriation. Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall revert to the general fund.

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