The higher education department, in conjunction with the governing bodies of the post-secondary educational institutions and other state educational institutions confirmed in Article 12, Section 11 of the constitution of New Mexico, shall develop and approve a five-year plan for funding the infrastructure renovation and expansion projects designated by the department as the highest priority of significant needs. The department shall determine the projects and amounts to be funded, with a timetable for the projects and amounts to be funded each year over the five-year period, subject to review and comment by the educational institutions and subject to appropriations.
History: Laws 1999 (1st S.S.), ch. 6, § 18; 2005, ch. 289, § 21.
ANNOTATIONSThe 2005 amendment, effective April 7, 2005, changed "commission on higher education" to "higher education department"; deleted the former provisions in Subsection A that the five-year plan will be funded with supplemental severance tax bonds and that projects were subject to the amount of supplemental severance tax bonds issued each year; provided in Subsection A that projects are subject to appropriations; and deleted former Subsection B which provided that the commission on higher education shall administer the proceeds for supplemental severance tax bonds and distribute the proceeds to educational institutions with projects funded with the proceeds.