SCHOOL TRANSPORT EMERGENCY FUND USES

HB 262 amends New Mexico's Transportation Emergency Fund to explicitly allow grants for small rural school districts to purchase buses specifically for student activities. This change directly affects small rural school districts by creating a new, targeted funding source for transportation needs beyond existing uses like fuel price spikes. The bill adds this provision to the fund's existing purpose, ensuring money remains available year-to-year without reverting to the general fund. The state education secretary must track and report all distributions to the governor and relevant legislative committees, as required by current fund rules.