A. The department shall promulgate rules setting forth explicit criteria in accordance with the Opportunity Scholarship Act for:

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

(1)     student qualification and continuing eligibility;

(2)     calculating the total amount of money necessary to pay for opportunity scholarships at each eligible institution pursuant to Section 4 [21-21R-4 N.M. Stat. Ann.] of the Opportunity Scholarship Act and guidelines for the administration of the Opportunity Scholarship Act; and

(3)     requirements for the memoranda of understanding regarding institution eligibility to participate in the opportunity scholarship program.

B. The department shall report by November 1 of each year to the legislative finance committee and the department of finance and administration on the:

(1)     status of the opportunity scholarship fund; and

(2)     Opportunity Scholarship Act participation data aggregated for each eligible institution to show the:

(a) number of eligible students who received scholarships in the prior academic year;

(b) total number of students enrolled in eligible institutions in the prior academic year; and

(c) number of eligible students who graduated with a degree and, for each eligible student, the number of consecutive semesters and nonconsecutive semesters attended prior to graduation.