New Mexico SB178: SCHOOL FINANCE CHANGES

What the bill says

An act relating to public school finance; requiring that school districts enrolling more than two thousand students allocate at least ninety percent of the money a public school generates through the state equalization guarantee distribution to that public school; limiting the unrestricted cash balances of school districts that fail to meet the allocation requirement; requiring school districts and charter schools to use evidence-based spending plans to improve academic outcomes of at-risk students…

From the introduced text, January 28, 2026:

AN ACT RELATING TO PUBLIC SCHOOL FINANCE; REQUIRING THAT SCHOOL DISTRICTS ENROLLING MORE THAN TWO THOUSAND STUDENTS ALLOCATE AT LEAST NINETY PERCENT OF THE MONEY A PUBLIC SCHOOL GENERATES THROUGH THE STATE EQUALIZATION GUARANTEE DISTRIBUTION TO THAT PUBLIC SCHOOL; LIMITING THE UNRESTRICTED CASH BALANCES OF SCHOOL DISTRICTS THAT FAIL TO MEET THE ALLOCATION REQUIREMENT; REQUIRING SCHOOL DISTRICTS AND CHARTER SCHOOLS TO USE EVIDENCE-BASED SPENDING PLANS TO IMPROVE ACADEMIC OUTCOMES OF AT-RISK STUDENTS; ALLOWING THE PUBLIC EDUCATION DEPARTMENT TO INTERVENE IN PUBLIC SCHOOLS THAT FAIL TO MAKE PROGRESS ON IMPROVING OUTCOMES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. A new section of the Public School Finance Act is enacted to read: .232972.4 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ "[NEW MATERIAL] BUDGETS--PERCENTAGE OF STATE EQUALIZATION GUARANTEE DISTRIBUTION TO GENERATING SCHOOLS.-- A. For each school district that has a student population of more than two thousand, the local school board shall: (1) calculate the number of program units that are generated by each public school in the school district through the state equalization guarantee distribution; and (2) allocate to each public school within the school district a minimum of ninety percent of the state equalization guarantee distribution generated by that public school's program units. B. In any year in which a school district fails …

Read the full official text

Sponsors

• George K. Muñoz (D, SD-004) · primary sponsor

Latest actions

1. February 2, 2026: SCC: Reported by committee to fall within the purview of a 30 day session
2. January 28, 2026: Sent to SCC - Referrals: SCC/SEC/SFC
3. : Action Postponed Indefinitely

Common questions

What is SB178?

SB178 is a bill in the New Mexico Legislature (2026 Regular Session): SCHOOL FINANCE CHANGES.

What does SB178 do?

In its own words: An act relating to public school finance; requiring that school districts enrolling more than two thousand students allocate at least ninety percent of the money a public school generates through the state equalization guarantee distribution to that public school; limiting the unrestricted cash balances of school districts that fail to meet the allocation requirement; requiring school districts and charter schools to use evidence-based spending plans to improve academic outcomes of at-risk students…

What is the status of SB178?

In committee as of February 2, 2026. Latest action: SCC: Reported by committee to fall within the purview of a 30 day session (February 2, 2026).

Who sponsored SB178?

George K. Muñoz (D, SD-004).

Where is the official record for SB178?

On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=178&year=26