New Mexico § 21-1-27.4 - Higher education program development enhancement fund; purpose

§ 21-1-27.4. Higher education program development enhancement fund; purpose

A. The “higher education program development enhancement fund” is created in the state

treasury. All income earned on investment of the fund shall be credited to the fund and money

in the fund shall not revert to any other fund at the end of a fiscal year. The fund shall be administered by the higher education department 1 and money in the fund is appropriated to the department to carry out the purposes

of this section. Disbursements from the fund shall be by warrant drawn by the secretary of finance

and administration pursuant to vouchers signed by the executive director of the higher

education department or his authorized representative. B. The higher education program development enhancement fund shall be used to enhance

the contribution of post-secondary educational institutions to the resolution of critical

state issues and the advancement of the welfare of state citizens. C. At the beginning of each fiscal year in which the commission [department] determines

that the balance of the fund is sufficient to make awards, the commission [department]

shall define or reaffirm no more than four critical issues to be addressed through

awards from the fund. Issues to be addressed may include: (1) expanding instructional programs to meet critical statewide work force and professional

training needs; (2) enhancing instructional programs that provide employment opportunity for New Mexico

students in a global economy; and (3) developing mission-specific instructional programs that build on existing institutional

academic strengths. D. The department shall establish criteria and procedures for making awards from the

fund based on evaluation of competitive proposals submitted by post-secondary educational

institutions. Each winning proposal shall address at least one of the critical issues defined

for use of the fund that year. Criteria may include: (1) collaboration among educational agencies and other public or private entities

that demonstrate a competency regarding the issues addressed by the proposal; (2) the commitment of matching money; and (3) evaluation components. E. The commission [department] shall report annually to the legislature and the governor

on the status of the fund and projects supported by the fund. 1

References to the commission on higher education are deemed references to the higher

education department; see NMSA 1978, § 9-25-4.1.