The "adult basic education fund" is created in the state treasury. Money in the fund is appropriated to the commission on higher education [higher education department] for the purpose of funding adult basic education programs for educationally disadvantaged adults. Money in the fund shall be distributed by the commission [department] pursuant to an equitable formula established by the commission [department] in consultation with representatives from the adult basic education administrative sites. Any unexpended or unencumbered balance remaining in the fund at the end of each fiscal year shall revert to the general fund.
History: Laws 1995, ch. 56, § 1; 2003, ch. 394, § 3; § 22-8-30.1, recompiled as § 21-1-27.5 by Laws 2004, ch. 27, § 28.
ANNOTATIONSRecompilations. — Laws 2004, ch. 27, § 28 recompiled former 22-8-30.1 NMSA 1978 as 21-1-27.5 NMSA 1978, effective May 19, 2004.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
For designation of the commission on higher education as the higher education department, see 9-25-4.1 NMSA 1978.
The 2003 amendment, effective April 8, 2003, substituted "commission on higher education" for "department of education" following "appropriated to the", substituted "commission" for "department of education" following "distributed by the", substituted "commission" for "state board" following "established by the", deleted "and with the approval of the commission on higher education as provided by law" following "education administrative sites".