Committee hears House Bill 8 to create a higher-education major projects fund; sponsors roll bill for cleaner substitute

The committee took up House Bill 8, which would create a higher‑education major projects fund and reallocate capital funding to support large campus projects and student life and housing statewide. Sponsors described a $300 million transfer in the budget that would seed the fund, including $150 million targeted for the UNM School of Medicine and $100 million for student life and housing projects across New Mexico.

Representatives of higher education groups spoke in support. Vanessa Hocker, executive director of the New Mexico Independent Community Colleges, said the bill "will open up additional capacity in the general obligation bond by moving those large projects out of the general obligation bond." Mark Cividad, executive director of the Council of University Presidents, said the bill is the result of extensive interim work and would help address facility and housing needs statewide.

Committee sponsors discussed an amendment that would alter priorities and add specific projects. Staff cautioned that inserting particular athletics projects and D‑I thresholds would require changes throughout the bill. After discussion, sponsors agreed to roll the bill and bring a substitute later with clarified language and priorities for consideration.

Next steps: the sponsor will prepare a cleaner substitute and return the bill to the committee for further consideration; no final committee action was taken.