With the approval of the higher education department, the board of regents of the New Mexico military institute may, each fiscal year, transfer up to five hundred thousand dollars ($500,000) of the institute's budget balances, including existing scholarship endowments, to the Luciano "Lucky" Varela opportunity scholarship fund established to implement the Luciano "Lucky" Varela opportunity scholarship.
History: Laws 2018, ch. 20, § 4.
Effective dates. — Laws 2018, ch. 20, § 6 made Laws 2018, ch. 20, § 4 effective July 1, 2018.
Structure New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 12 - New Mexico Military Institute
Section 21-12-1 - [Board of regents; appointment; term; political affiliations; compensation.]
Section 21-12-2 - [Election of officers; duties; bond of secretary-treasurer.]
Section 21-12-3 - [Board of regents; duty; educational standard.]
Section 21-12-4 - [Rules and regulations; teachers' contracts; buildings; improvements.]
Section 21-12-5 - Sale of lands.
Section 21-12-6 - [Deeds and contracts signed by president.]
Section 21-12-7 - [Increase in tuition fee authorized.]
Section 21-12-8 - Officers to be governor's aides; rank; uniforms.
Section 21-12-9 - Organization of cadets; cadet commissions; authority of superintendent.
Section 21-12-10 - [Ordnance and quartermaster's stores; care and custody; annual report.]
Section 21-12-11 - General Richard T. Knowles legislative scholarship program created; purpose.
Section 21-12-12 - Program administration; criteria.
Section 21-12-13 - Fund created.
Section 21-12-14 - Investment of fund.
Section 21-12-15 - New Mexico military institute; transfer of budget balances.
Section 21-12-16 - Public safety education; scholarships.
Section 21-12-17 - Corrections education; scholarships.
Section 21-12-18 - Luciano "Lucky" Varela opportunity scholarship created; purpose.
Section 21-12-19 - Program administration; criteria.
Section 21-12-20 - Luciano "Lucky" Varela opportunity scholarship fund.
Section 21-12-21 - New Mexico military institute; transfer of budget balances.