2006 New Mexico Statutes - Section 21-14A-8 — State support; appropriation.

21-14A-8. State support; appropriation.

A.     The commission on higher education shall recommend an appropriation for each off-campus instruction program based upon its financial requirements in relation to its authorized program and its available funds from non-general fund sources.   

B.     The commission on higher education shall not recommend an appropriation greater than three hundred twenty-five dollars ($325) for each full-time-equivalent student for any off-campus instruction program that levies a tax at a rate less than two dollars ($2.00), unless a lower amount is required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978 upon a rate approved by the electors of at least two dollars ($2.00) on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code [ 7-35-1 NMSA 1978], or any off-campus board that reduces a previously authorized tax levy, except as required by the operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978.