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Senate committee backs HB8 to create $300M higher‑education major projects fund, prioritizes UNM medical school
Summary
The Senate Education Committee recommended HB8 'do pass' as amended after detailed testimony and questions on the bill's $300 million transfer, initial priorities (including $150 million for the UNM School of Medicine), design and match requirements, and HED's role in administering the fund.
The Senate Education Committee on Wednesday recommended House Bill 8, which creates a higher‑education major projects fund, sending the measure forward after extended testimony and multiple technical questions about priorities, administration and fiscal treatment.
Callie Carswell, an analyst with the Legislative Finance Committee, told the panel the bill addresses several problems with funding major higher‑education projects, including rising construction costs and the difficulty of funding large projects in a single capital cycle. "The bill provides a stronger policy and oversight framework for these projects than exists in the current…
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