The bill amends Section 7-27-12.6 NMSA 1978, which pertains to the issuance and sale of supplemental severance tax bonds for education technology infrastructure. It allows the director of the office of broadband access and expansion to certify the need for up to ten million dollars annually for such expenditures. The state board of finance is authorized to issue and sell these bonds based on the director's certification, ensuring that the total amount sold does not exceed the certified need or the limits set by existing law. The proceeds from these bonds are designated for the education technology infrastructure fund.

Additionally, the bill includes a delayed repeal of the provisions in this section, which were previously set to be repealed effective July 1, 2030. The new language clarifies that the provisions will remain in effect until that date, ensuring continued funding for education technology infrastructure through the supplemental severance tax bonds until the repeal takes effect.

Statutes affected:
introduced version: 7-27-12.6