44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

RELATING TO EDUCATION; AMENDING THE INCENTIVE FOR SCHOOL IMPROVEMENT FUND TO INCLUDE MATERIALS AND SUPPLIES FOR THE CLASSROOM.

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

Section 1. Section 22-13A-6 NMSA 1978 (being Laws 1989, Chapter 137, Section 6, as amended) is amended to read:

"22-13A-6. FUND CREATED.--

A. There is created in the state treasury the "incentives for school improvement fund". The fund shall consist of any state money appropriated to the fund, [any] federal money allocated to the state for the purposes of the Incentives for School Improvement Act, undistributed annual balances and earnings of the fund and [any] gifts or bequests made to the fund. The state treasurer shall invest the fund as other state funds are invested. The balance remaining in the fund at the end of the fiscal year shall not revert to the general fund.

B. The fund is appropriated to the department for the purpose of implementing and administering the Incentives for School Improvement Act. No more than three percent of the fund may be retained by the department for administrative purposes.

C. Money in the fund other than that used for administrative purposes shall be distributed directly to schools evidencing the greatest improvement as determined by the department. Disbursements shall be made only to that number of schools constituting not more than ten percent of the student membership in the state. Distributions shall be made proportionately to schools that qualify. Money received by a school from the fund shall not be used for salaries, salary increases or bonuses but may be given to teachers to be used for materials and supplies in their classrooms. Money shall be used as determined by the school principal and teachers in cooperation with other school employees and the community."