Establishes the Higher Education Major Projects Fund for capital improvements at New Mexico educational institutions.
The bill creates the Higher Education Major Projects Fund, a nonreverting fund in the state treasury, consisting of appropriations, investment income, gifts, grants, and donations. The fund is administered by the Higher Education Department and is subject to appropriation by the legislature for major capital outlay projects at educational institutions. Eligible uses include planning, designing, constructing, equipping, and furnishing new schools of medicine, multidisciplinary buildings, and student life and housing projects.
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