Section 21-23-6.3 - Fee authorization. - New Mexico Statutes

21-23-6.3. Fee authorization.

A.     The commission may establish initial application fees for all colleges, universities or career schools seeking to operate in New Mexico.  The initial application fee shall be not less than two hundred dollars ($200) or more than five thousand dollars ($5,000).  In setting the fee, the commission shall consider the projected revenue of the institution and the projected cost of performing the review.

B.     The commission may establish an annual licensing fee for all career schools or nonregionally accredited colleges or universities licensed by the commission.  The licensing fee shall be proportionate to each school's gross annual tuition revenue; provided the fee shall be not less than two hundred dollars ($200) or more than five thousand dollars ($5,000).

C.     The commission may charge a reasonable administrative fee not to exceed the actual cost of providing the administrative service.

D.     All fees imposed and collected by the commission shall be deposited in the post-secondary educational institution fund.