S 129 PERMANENT FUND FOR EDUCATION IMPLEMENTATION

Sen Nancy Rodriguez

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. 

 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.
 

 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. 

 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