TRIBAL EDUCATION TRUST FUND

SB 234 creates a permanent "Tribal Education Trust Fund" in New Mexico's state treasury to provide annual funding for tribal education programs. Starting in fiscal year 2027, the fund will disburse at least $12.5 million each year (or 5% of its five-year average value) directly to New Mexico tribes with approved agreements, with funds carrying over annually for tribal use. Tribes must submit annual budget plans and impact reports to the Public Education Department, while the department develops a disbursement formula with a task force. The bill was referred to committees but was postponed indefinitely on June 3, 2025.