S 3 FAMILY INCOME INDEX DISTRIBUTIONS FLEXIBILITY

Sen Mimi Stewart

Actions: SPREF [1] SEC/SFC-SEC [4] DP-SFC [8] DP/a - PASSED/S (35-0) [10] HEC/HAFC-HEC [12] DP-HAFC [14] DP [16] PASSED/H (58-4) [21] SGND BY GOV (Mar. 17) Ch. 23.

Scheduled: Not Scheduled

 Senate Bill 3 (SB 3) amends Public School Finance to provide more flexibility for uses of Family Income Index Distributions. SB 3 makes an appropriation.
 

 Senate Bill 3 (SB 3) amends Public School Finance to provide more flexibility for uses of Family Income Index Distributions. SB XX makes an appropriation.

SECTION 1 amends Public School Finance Section 22-8F-5 NMSA 1978 (being Laws 2021, Chapter 18, Section 5) to provide more flexibility for uses of Family Income Index Distributions by deleting the requirement for a least one third allocations each for literacy and mathematics with the remaining one third allocated to a variety of interventions by allowing the use of the allocation on any of the list provided in Subsection A. A(6) inserts an additional intervention: evidence-based, high-quality instructional resources and materials.

Subsection B is deleted, and the section is relettered. 

SECTION 2 appropriates $15,000,000 from the General Fund to the Public Education Department (PED) for expenditure in Fiscal Year 2024 for the PED to provide funding for the family income index. Any unexpended or unencumbered balance remaining at the end of Fiscal Year 2024 shall revert to the General Fund. 

 Senate Bill 3 (SB 3) is amended by the Senate Finance Committee to delete MAKING AND APPROPRIATION  from the title. Section 2 for the appropriation is deleted in its entirety.