HIGHER ED. MAJOR PROJECTS FUND

Added full statutory language creating the Higher Education Major Projects Fund as a nonreverting fund in the state treasury.

Added specific definitions for 'department', 'four-year educational institution', 'student life projects', and 'two-year educational institution' including tribal colleges.

Established specific funding amounts for initial priority projects totaling $330 million including $150 million for UNM School of Medicine, $50 million for NMSU multidisciplinary building, $100 million for statewide student housing, $20 million for UNM stadium, and $10 million for UNM student housing.

Added match requirements for funding: 25% for four-year design phase, 10% for four-year construction, 50% for two-year projects, with specific provisions for athletic facilities requiring 50% match.

Added waiver procedures allowing the department to waive match requirements if institutions cannot reasonably afford them, requiring notification to legislative finance committee by November 1.

Added requirement that construction phase funding cannot be appropriated until 50% of design phase is complete and design documents are submitted to the department and legislative finance committee.

Added documentation requirements for institutions to provide historic on-campus student populations, expected student numbers, and compliance with institutional space standards.

Added eligibility criteria requiring state universities applying for division 1 athletic facilities funding to demonstrate graduation rates of 65% or higher for first-time freshmen.

Removed introductory formatting elements including 'Introduced By' section and duplicate act titles.