0001|                            SENATE BILL 31
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                        PAULINE B. EISENSTADT
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0005|     
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0006|                                   
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0007|     
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0008|           FOR THE EXCELLENCE IN HIGHER EDUCATION COMMITTEE
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO EDUCATION; CREATING THE EXCELLENCE IN HIGHER
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0012|     EDUCATION INVESTMENT FUND; PROVIDING FOR THE ENHANCEMENT OF
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0013|     POST-SECONDARY EDUCATION; MAKING AN APPROPRIATION.
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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.  EXCELLENCE IN HIGHER EDUCATION INVESTMENT
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0017|     FUND--PURPOSE.--  
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0018|               A.  The "excellence in higher education investment
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0019|     fund" is created in the state treasury.  All income earned on
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0020|     the fund shall be credited to the fund.  Balances in the
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0021|     excellence in higher education investment fund are
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0022|     appropriated to the commission on higher education for the
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0023|     purposes of this section and shall not revert at the end of
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0024|     any fiscal year.  Disbursements from the fund shall be by
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0025|     warrant drawn by the secretary of finance and administration
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0001|     pursuant to vouchers signed by the executive director of the
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0002|     commission on higher education or his designee.
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0003|               B.  The commission on higher education shall
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0004|     administer the excellence in higher education investment fund
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0005|     for the purpose of enhancing the contribution of post-
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0006|     secondary educational institutions to the resolution of
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0007|     critical state issues and the advancement of the welfare of
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0008|     state citizens.
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0009|               C.  At the beginning of each fiscal year in which
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0010|     the commission determines that the balance of the fund is
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0011|     sufficient to make awards, the commission shall consult with
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0012|     the legislative finance committee and the governor to define
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0013|     or reaffirm no more than four critical issues to be addressed
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0014|     through awards from the fund.  Issues to be addressed may
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0015|     include:
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0016|                    (1)  increasing the quality of elementary and
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0017|     secondary education as measured by:
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0018|                         (a)  the rate of students meeting high
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0019|     standards of performance;
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0020|                         (b)  the rate of high school graduation,
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0021|     helping to document the importance of early childhood brain
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0022|     development; and
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0023|                         (c)  the preparation of students for
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0024|     post-secondary education;
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0025|                    (2)  improving the preparation of high school
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0001|     graduates or college graduates for work as measured by
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0002|     employer satisfaction with graduates or other indices; and
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0003|                    (3)  improving the communities' efforts in job
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0004|     creation.
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0005|               D.  The commission shall establish procedures for
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0006|     making awards from the fund based on evaluation of competitive
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0007|     proposals submitted by post-secondary educational
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0008|     institutions.  In consultation with the governor and the
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0009|     legislature, the commission may establish criteria for making
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0010|     awards.  Each winning proposal shall address at least one of
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0011|     the critical issues defined for use of the fund.  Criteria may
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0012|     include:
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0013|                    (1)  collaboration among educational agencies
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0014|     and other public or private entities that demonstrate a
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0015|     competency regarding the issues addressed by the proposal;
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0016|                    (2)  the commitment of matching money; and
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0017|                    (3)  evaluation components.
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0018|               E.  The commission shall report annually to the
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0019|     legislature and the governor on the status of the fund and
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0020|     projects supported by the fund.
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0021|          Section 2.  APPROPRIATION.--One million dollars
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0022|     ($1,000,000) is appropriated from the general fund to the
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0023|     excellence in higher education investment fund for expenditure
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0024|     in fiscal year 1999 and subsequent fiscal years for the
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0025|     purpose of making awards based on competitive proposals
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0001|     submitted by post-secondary educational institutions that meet
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0002|     the criteria established by the commission on higher education
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0003|     for those awards.  Any unexpended or unencumbered balance
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0004|     remaining at the end of a fiscal year shall not revert to the
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0005|     general fund.
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0006|          Section 3.  EFFECTIVE DATE.--The effective date of the
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0007|     provisions of this act is July 1, 1998.
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0008|                              
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