0001| HOUSE BILL 1288
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| RAYMOND G. SANCHEZ
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0005|
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0006|
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0007|
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO HIGHER EDUCATION; ENACTING THE INVESTMENT IN
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0012| UNIVERSITY EXCELLENCE ACT; CREATING PERMANENT ENDOWMENTS;
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0013| PROVIDING FOR ADMINISTRATION.
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0014|
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0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016| Section 1. SHORT TITLE.--This act may be cited as the
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0017| "Investment in University Excellence Act".
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0018| Section 2. PURPOSE.--The purpose of the Investment in
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0019| University Excellence Act is to encourage the investment of
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0020| private funds in New Mexico higher education by providing state
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0021| matching funds to attract private corporate and philanthropic
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0022| contributions to the state's institutions of higher education
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0023| as a public-private partnership in university excellence.
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0024| Section 3. UNIVERSITIES TO ESTABLISH ENDOWMENT
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0025| PROGRAMS.--
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0001| A. The boards of regents of the university of New
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0002| Mexico, New Mexico state university, New Mexico institute of
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0003| mining and technology, New Mexico highlands university, eastern
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0004| New Mexico university and western New Mexico university may
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0005| establish endowed faculty chairs, professorships, lectureships
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0006| and graduate fellowships to carry out the purpose of the
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0007| Investment in University Excellence Act.
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0008| B. Money provided from public and private sources
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0009| for endowments established pursuant to Subsection A of this
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0010| section shall not be expended, but shall be invested by the
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0011| institutions, and the income from the investment shall be used
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0012| to carry out the provisions of the Investment in University
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0013| Excellence Act; provided that nothing in this section prohibits
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0014| an institution from reinvesting income from its endowment.
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0015| Section 4. FUND CREATED--ADMINISTRATION.--
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0016| A. The "investment in university excellence fund"
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0017| is created in the state treasury. The money in the fund is
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0018| appropriated to the commission on higher education for the
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0019| purposes set forth in the Investment in University Excellence
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0020| Act and amounts in the fund shall not revert at the end of any
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0021| fiscal year. Amounts in the fund shall be distributed to the
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0022| institutions of higher education as provided in Subsection B of
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0023| this section and as otherwise provided by appropriation of the
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0024| legislature. The fund shall be administered by the commission
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0025| on higher education in accordance with the provisions of that
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0001| act.
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0002| B. An institution of higher education named in
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0003| Section 3 of the Investment in University Excellence Act shall
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0004| certify to the commission on higher education that it has
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0005| received contributions from private sources in an amount equal
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0006| to the amount requested from the investment in university
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0007| excellence fund.
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0008| State of New Mexico
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0009| House of Representatives
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0010|
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0011| FORTY-THIRD LEGISLATURE
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0012| FIRST SESSION, 1997
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0013|
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0014|
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0015| March 10, 1997
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0016|
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0017|
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0018| Mr. Speaker:
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0019|
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0020| Your EDUCATION COMMITTEE, to whom has been referred
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0021|
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0022| HOUSE BILL 1288
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0023|
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0024| has had it under consideration and reports same with
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0025| recommendation that it DO PASS, and thence referred to the
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0001| APPROPRIATIONS AND FINANCE COMMITTEE.
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0002|
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0003| Respectfully submitted,
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0004|
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0005|
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0006|
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0007|
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0008|
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0009| Samuel F. Vigil, Chairman
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0010|
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0011|
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0012| Adopted Not Adopted
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0013|
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0014| (Chief Clerk) (Chief Clerk)
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0015|
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0016| Date
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0017|
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0018| The roll call vote was 9 For 0 Against
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0019| Yes: 9
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0020| Excused: Mallory, McSherry, Nicely, S.M. Williams
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0021| Absent: None
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0022|
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0023|
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0024| C:\OFFICE\WPWIN\WPDOCS\H1288EC1.WPD State of New Mexico
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0025| House of Representatives
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0001|
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0002| FORTY-THIRD LEGISLATURE
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0003| FIRST SESSION, 1997
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0004|
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0005|
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0006| March 12, 1997
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0007|
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0008|
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0009| Mr. Speaker:
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0010|
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0011| Your APPROPRIATIONS AND FINANCE COMMITTEE, to
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0012| whom has been referred
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0013|
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0014| HOUSE BILL 1288
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0015|
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0016| has had it under consideration and reports same with
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0017| recommendation that it DO PASS.
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0018|
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0019| Respectfully submitted,
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0020|
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0021|
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0022|
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0023|
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0024|
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0025| Max Coll, Chairman
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0001|
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0002|
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0003| Adopted Not Adopted
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0004|
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0005| (Chief Clerk) (Chief Clerk)
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0006|
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0007| Date
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0008|
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0009| The roll call vote was 11 For 0 Against
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0010| Yes: 11
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0011| Excused: Buffett, Garcia, M.H., Marquardt, Picraux, Salazar,
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0012| Townsend
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0013| Absent: None
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0014|
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0015|
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0016| G:\BILLTEXT\BILLW_97\H1288
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0017|
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0018| FORTY-THIRD LEGISLATURE
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0019| FIRST SESSION, 1997
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0020|
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0021|
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0022| March 17, 1997
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0023|
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0024| Mr. President:
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0025|
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0001| Your EDUCATION COMMITTEE, to whom has been referred
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0002|
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0003| HOUSE BILL 1288
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0004|
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0005| has had it under consideration and reports same with
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0006| recommendation that it DO PASS, and thence referred to the
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0007| FINANCE COMMITTEE.
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0008|
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0009| Respectfully submitted,
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0010|
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0011|
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0012|
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0013|
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0014| __________________________________
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0015| Cynthia Nava, Chairman
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0016|
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0017|
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0018|
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0019| Adopted_______________________ Not
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0020| Adopted_______________________
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0021| (Chief Clerk) (Chief Clerk)
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0022|
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0023|
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0024|
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0025| Date ________________________
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0001|
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0002|
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0003| The roll call vote was 6 For 0 Against
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0004| Yes: 6
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0005| No: 0
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0006| Excused: Boitano, Duran, Garcia, Gorham
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0007| Absent: None
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0008|
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0009|
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0010| H1288ED1
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0011|
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0012|
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0013| FORTY-THIRD LEGISLATURE
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0014| FIRST SESSION, 1997
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0015|
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0016|
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0017| March 21, 1997
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0018|
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0019| Mr. President:
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0020|
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0021| Your FINANCE COMMITTEE, to whom has been referred
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0022|
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0023| HOUSE BILL 1288
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0024|
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0025| has had it under consideration and reports same with
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0001| recommendation that it DO PASS.
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0002|
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0003| Respectfully submitted,
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0004|
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0005|
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0006|
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0007|
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0008| __________________________________
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0009| Ben D. Altamirano, Chairman
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0010|
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0011|
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0012|
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0013| Adopted_______________________ Not
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0014| Adopted_______________________
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0015| (Chief Clerk) (Chief Clerk)
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0016|
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0017|
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0018|
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0019| Date ________________________
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0020|
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0021|
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0022| The roll call vote was 6 For 0 Against
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0023| Yes: 6
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0024| No: None
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0025| Excused: Carraro, Eisenstadt, Ingle, Lyons, McKibben
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0001| Absent: None
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0002|
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0003|
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0004| H1288FC1
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