New Mexico Statutes 22-8F-3. Family income index; income categories; calculation;
information-sharing agreements.
Terms Used In New Mexico Statutes 22-8F-3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
A. The department shall calculate a family income index for each public school, using the following information:
(1) the department shall obtain family income information sufficient to identify the total number of households in each public school in each of the income categories in Subsection C of this section, based on tax return data of families of students enrolled in that public school and for whose households the taxation and revenue department is able to locate tax return information;
(2) for students whose families the taxation and revenue department is unable to identify tax return data for pursuant to Paragraph (1) of this subsection, family income information sufficient to identify the total number of households in each public school in each of the income categories in Subsection C of this section, based on income information provided to the human services department [health care authority department]by families applying for benefits; and
(3) for a student whose family income is not available to the taxation and revenue department or the human services department [health care authority department], the department shall use income statistics from the most current census information for the reported address of the student to determine to which income category in Subsection C of this section the student is assigned.
B. The taxation and revenue department and the human services department [health care authority department] shall enter into information-sharing agreements with the department to provide the information requested by the department pursuant to Subsection A of this section.
C. Pursuant to Subsection D of this section, the department shall calculate the percentage of student households for each public school in each of the following income categories using information obtained as provided in Subsection A of this section:
(1) extremely low income; (2) very low income;
(3) low income;
(4) moderate income; and
(5) above average income.
D. The number of students from each public school in each category shall be divided by the public school’s total enrollment to determine the percentage of students in each category. The family income index for each public school is as follows:
(1) for fiscal year 2022, the sum of the percentages of the public school’s students in the extremely low and very low income categories during the preceding fiscal year;
(2) for fiscal year 2023, the average of the sum of the percentages of the public school’s students in the extremely low and very low income categories during the immediately preceding two fiscal years; and
(3) for fiscal year 2024 and each subsequent fiscal year, the average of the sum of the percentages of the public school’s students in the extremely low and very low income categories during the immediately preceding three fiscal years.
E. The department shall rank all public schools in the state from lowest family income index to highest family income index by October 31 of each year.
F. The department shall provide the percentage of students at each public school in each income category to the legislative education study committee and the legislative finance committee by November 15 of each year.