SENATE BILL 736

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

INTRODUCED BY

Nancy Rodriguez

AN ACT

RELATING TO PUBLIC SCHOOL CAPITAL IMPROVEMENTS; AMENDING THE PUBLIC SCHOOL BUILDINGS ACT TO ALLOW A PORTION OF TAX REVENUES TO BE EXPENDED FOR SCHOOL DISTRICT COSTS OF ADMINISTERING THE CAPITAL IMPROVEMENTS.

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

     Section 1. Section 22-26-2 NMSA 1978 (being Laws 1983, Chapter 163, Section 2, as amended) is amended to read:

     "22-26-2. DEFINITIONS.--As used in the Public School Buildings Act, "capital improvements" means expenditures, including payments made with respect to lease-purchase arrangements as defined in the Education Technology Equipment Act but excluding any other debt service expenses, for:

          A. erecting, remodeling, making additions to, providing equipment for or furnishing public school buildings; [and]

          B. purchasing or improving public school grounds; and

          C. administering the projects undertaken pursuant to Subsections A and B of this section, including expenditures for facility maintenance software, project management software and project oversight; provided that expenditures pursuant to this subsection shall not exceed five percent of the total project costs."

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