The bill amends existing laws related to public school finance in New Mexico, specifically focusing on the Public Education Reform Fund. It allows for the use of this fund to support reform projects that are included in accountability and evaluation plans approved by the Department of Finance and Administration. Additionally, the bill mandates that the Department of Finance and Administration consult with the Legislative Finance Committee and the Legislative Education Study Committee before approving instructions for these accountability and evaluation plans.

Key changes include the requirement for local school boards and state-chartered charter schools to submit annual estimates of student enrollment and financial needs by October 15, and for the Department of Finance and Administration to review these needs and submit recommendations for appropriations by September 1. The bill also outlines the process for developing accountability and evaluation plans, including the identification of program goals, performance measures, and evaluation methods, which must be submitted to the relevant committees by July 1 of the appropriation year.

Statutes affected:
introduced version: 22-8-12.1, 22-8-23.13
Final Version: 22-8-12.1, 22-8-23.13