FUNDING FOR TERMINATED RESEARCH PROJECTS

SB 204 appropriates $100 million from the general fund to the Higher Education Department to fill gaps caused by reduced or terminated federal funding for research projects at the University of New Mexico, New Mexico State University, and the New Mexico Institute of Mining and Technology. The funding is specifically for projects that could still be completed if the federal funding shortfall were addressed. It applies to fiscal years 2027 and 2028, with any unspent balance reverting to the general fund by the end of 2028. The bill directly supports these public research institutions and their ongoing projects affected by federal funding changes.