2019 New Mexico Statutes
Chapter 6 - Public Finances
Article 15A - Education Technology Equipment
Section 6-15A-17 - Charter schools; receipt of education technology equipment.
On or after July 1, 2015, a school district that assumes a debt through a lease-purchase arrangement under the provisions of the Education Technology Equipment Act shall provide, to each eligible charter school in the school district, education technology equipment equal in value to an amount based upon the net proceeds from the debt after payment of the cost of issuing the debt through a lease-purchase arrangement prorated by the number of students enrolled in the school district and in eligible charter schools as reported on the first reporting date of the prior school year; provided that, in the case of an approved eligible charter school that had not commenced classroom instruction in the prior school year, the estimated full-time-equivalent enrollment in the first year of instruction, as shown in the approved charter school application, shall be used to determine the amount, subject to adjustment after the first reporting date.
History: Laws 2015, ch. 68, § 3.
ANNOTATIONSEffective dates. — Laws 2015, ch. 68, § 5 made Laws 2015, ch. 68, § 3 effective July 1, 2015.
