Section 22-8-14 - Public school fund. - New Mexico Statutes

22-8-14. Public school fund.   

A.     The "public school fund" is created.  

B.     The public school fund shall be distributed to school districts and state-chartered charter schools in the following parts: 

(1)     state equalization guarantee distribution; 

(2)     transportation distribution; and 

(3)     supplemental distributions: 

(a)     out-of-state tuition to school districts; 

(b)     emergency; and 

(c)     program enrichment.  

C.     The distributions of the public school fund shall be made by the department within limits established by law.  The balance remaining in the public school fund at the end of each fiscal year shall revert to the general fund, unless otherwise provided by law.