New Mexico legislation · 2026 Regular Session
New Mexico HB149: CHARTER SCHOOLS & NMFA
Status: Failed, February 11, 2026
What the bill says
An act relating to charter schools; amending the definition for "qualified entity" in the new mexico finance authority act to include a nonprofit foundation or support organization affiliated with a charter school; authorizing the new mexico finance authority to make loans from the charter school facility revolving fund to nonprofit foundations or support organizations affiliated with charter schools; requiring that the amount of a grant from the public school capital outlay fund for lease assistance to a charter school be the greatest of the possible authorized amounts…
From the introduced text, January 26, 2026:
AN ACT RELATING TO CHARTER SCHOOLS; AMENDING THE DEFINITION FOR "QUALIFIED ENTITY" IN THE NEW MEXICO FINANCE AUTHORITY ACT TO INCLUDE A NONPROFIT FOUNDATION OR SUPPORT ORGANIZATION AFFILIATED WITH A CHARTER SCHOOL; AUTHORIZING THE NEW MEXICO FINANCE AUTHORITY TO MAKE LOANS FROM THE CHARTER SCHOOL FACILITY REVOLVING FUND TO NONPROFIT FOUNDATIONS OR SUPPORT ORGANIZATIONS AFFILIATED WITH CHARTER SCHOOLS; REQUIRING THAT THE AMOUNT OF A GRANT FROM THE PUBLIC SCHOOL CAPITAL OUTLAY FUND FOR LEASE ASSISTANCE TO A CHARTER SCHOOL BE THE GREATEST OF THE POSSIBLE AUTHORIZED AMOUNTS; LIMITING A CHARTER SCHOOL'S LOCAL SHARE OF A PUBLIC SCHOOL CAPITAL OUTLAY PROJECT QUALIFIED UNDER THE EDUCATIONAL ADEQUACY CATEGORY TO TEN PERCENT; MAKING CONFORMING AMENDMENTS; MAKING A TRANSFER FROM THE PUBLIC SCHOOL CAPITAL OUTLAY FUND TO THE CHARTER SCHOOL FACILITY REVOLVING FUND. .232827.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 6-21-3 NMSA 1978 (being Laws 1992, Chapter 61, Section 3, as amended) is amended to read: "6-21-3. DEFINITIONS.--As used in the New Mexico Finance Authority Act: A. "authority" means the New Mexico finance authority; B. "bond" means any bonds, notes, certificates of participation or other evidence of indebtedness; C. "bondholder" or "holder" means a person who is the owner of a bond, whether registered or not; D. …