Actions: [1] SEC/SFC-SEC
Scheduled: Not Scheduled
Senate Bill 129 (SB 129) provides for implementation of Constitutional Amendment 1 approved by the voters in 2022, which provides for an additional distribution from the Permanent School Fund for educational purposes.Legislation Overview:
Section 19-1-17 NMSA 1978 is modified to add the “Early Childhood Education Current Fund” (ECECF). The Bill specifies that 40% of the additional distribution from the Permanent School Fund of the land grant permanent funds shall be deposited in the Public Education Reform Fund for enhanced instruction for: • Public school students at risk of failure • Extension of the public school year; and • Public school teacher compensation Further, the Bill states that 60% of the additional distribution from the Permanent School Fund of the land grant permanent funds shall be deposited in the ECECF for early childhood education.Current Law:
Constitutional Amendment 1, approved by the voters in 2022, allocated a percentage of the Land Grant Permanent Fund to early childhood education and public education. If the bill does not pass, the allocations as specified may be made to other appropriate projects/programs.Relates To:
SB 223468, requesting Congress to consent to New Mexico Constitutional Amendment to provide additional distribution from the Permanent School Fund for early childhood education for children who are not public school students SB 158, General Appropriation Act of 2023 HB 2, General Appropriation Act of 2023 HB 130, K-5 Plus Program SB 49, Reduce adverse childhood experiences SJR 2, Children’s Bill of Rights