N.M. House Passes Measure to Protect School Funding with Bipartisan Support
Santa Fe, N.M. - Today, the New Mexico House passed Senate Bill 114 with bipartisan support by a vote of 45-22 to protect school funding. Representative Patty Lundstrom (D-Gallup) amended the bill to ensure vulnerable school districts were protected, while saving $38.4 million for the general fund.
“We are pleased that we were able to pass a bill that protects vulnerable school districts, and puts us on track to solve the budget crisis we have inherited,” said Representative Patty Lundstrom. “The floor amendment adopted today minimizes the impact to our schools and our students.”
Specifically, the amendment prevents school district and charter school reserves from dropping below 4% by raising the minimum cash reserve threshold impact to 4%.
“Our solution is far less than the $120 million cut proposed by the Governor,” said Representative Stephanie Garcia Richard (D-Los Alamos). “School districts are already struggling and this bill, as amended, keeps more funding in our schools than any other proposal and reinforces our commitment to our kids.”
The amended bill will now return to the New Mexico Senate for concurrence.