HIGHER ED. MAJOR PROJECTS FUND

Summary

The bill establishes the Higher Education Major Projects Fund, a non‑reverting treasury account that will receive $300 million from the general fund in FY 2027. It can be used for large capital projects—research facilities, student housing, and student‑life buildings—at four‑year universities, community colleges and tribal colleges, subject to state‑matching contributions that can be waived under certain conditions. The legislation also sets initial spending priorities, including a new medical school at UNM, a multidisciplinary building at NMSU, and statewide student‑life and housing projects.

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