SB 76 SCHOOL LOCAL SHARE ADJUSTMENT WAIVER

Sen Mimi Stewart

Actions: [1] SCC/SEC/SFC-SCC [2]germane-SEC [3] DP-SFC [6] DP - PASSED/S (38-0) [9] HEC/HAFC-HEC [10] DP-HAFC [14] DP [15] PASSED/H (61-0) SGND BY GOV (Feb. 29) Ch. 22.

Scheduled: Not Scheduled

 Senate Bill 76 relates to Public School capital outlay by amending the local share adjustment waiver requirements for school districts.
 

 SB 76 (SB 76) in Public Schools adjusts the local share adjustment waiver requirements for school districts.

SECTION 1 amends Public Schools Section 22-24-5 NMSA 1978 (being Laws 1975, Chapter 235, Section 5, as amended) under Public School Outlay Capital Projects in Subsection B(9)(b)(3), which provides that except in sections specified, the provisions governing grant assistance from the fund for a public school capital outlay project not wholly funded allows the council may adjust the amount of the local share if it determines a school district has made a good-faith effort to use all of its local resources. Before making any adjustment to the local share, the council shall consider whether the school district has met criteria as listed Subsection B(9)(b).
Item 3 is amended as follows:
(3) has phase two formula value calculated pursuant to paragraph 5 of this subsection that would be greater than 50 percent;

SECTION 2 makes the provisions of this act apply to public school capital outlay awards made during the 2023-2024 awards cycle and subsequent cycles. 

 Senate Bill 76 in Public School Outlay Capital Projects currently has the local share adjustment waiver based on a share of the total project cost, as calculated pursuant to provisions of Subsection B(9)(b)(3).