This bill amends existing laws regarding group insurance contributions for school districts and charter schools in New Mexico. It establishes that these entities must contribute at least eighty percent of the cost of insurance for their employees, replacing previous tiered contribution percentages based on salary levels. Additionally, the bill mandates a comprehensive study to assess the sustainability of insurance programs for public school employees, which will evaluate the potential integration of these programs with other public health insurance plans and outline necessary legislative actions by 2027.

Furthermore, the bill includes an appropriation of $73,153,900 from the general fund to the public school fund for the state equalization guarantee distribution for fiscal year 2027. The final report from the required study is due by October 1, 2026, and the provisions of the act will take effect on July 1, 2026. This legislation aims to enhance the insurance benefits for public school employees while ensuring the financial sustainability of these programs.

Statutes affected:
introduced version: 10-7-4, 22-29-10