Section 21-1-27.5 - Adult basic education fund created. - New Mexico Statutes

21-1-27.5. Adult basic education fund created.

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 pursuant to an equitable formula established by the commission 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.