SENATE BILL 523

48th legislature - STATE OF NEW MEXICO - second session, 2008

INTRODUCED BY

John C. Ryan

AN ACT

RELATING TO PUBLIC SCHOOL FINANCE; ESTABLISHING A REQUIRED MINIMUM PERCENTAGE OF BUDGETED EXPENDITURES FOR INSTRUCTION FOR CERTAIN SCHOOL DISTRICTS.

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

     Section 1. A new section of the Public School Finance Act is enacted to read:

     "[NEW MATERIAL] SCHOOL DISTRICT OPERATING BUDGETS--BUDGETED INSTRUCTIONAL EXPENDITURES REQUIREMENT.--In school districts with an enrollment of thirty-five thousand or more students, a minimum percentage of the total operating budget shall be budgeted under function 1000, instruction, as specified in the department's uniform chart of accounts manual of procedures, as follows: 

          A. for fiscal year 2009, sixty-three percent;

          B. for fiscal year 2010, sixty-four percent; and

          C. for fiscal year 2011 and succeeding fiscal years, sixty-five percent."

- 2 -