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SB 106 New Mexico Senate · 2026 Regular Session

GRADUATE SCHOLARSHIP ACT FUNDING

SB 106 allocates $5 million from New Mexico's general fund to the Higher Education Department for fiscal year 2027 to support graduate scholarships under the Graduate Scholarship Act. This funding directly benefits New Mexico graduate students pursuing advanced degrees by providing financial assistance through the state's scholarship program. The bill specifies that any unspent funds at the end of fiscal year 2027 must return to the general fund. The legislation is currently moving forward after passing committee review in the Senate.
Issues: ✓ Budget & TaxesSupports Budget & TaxesAllocates $5M from general fund for graduate scholarships, directly funding public education programs within state budget allocation.95% confidence ✓ EducationSupports EducationAllocates $5M for graduate scholarships under Higher Education Department, directly funding post-secondary student support per bill's purpose.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 23, 2026 Last action Mar 24, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
4
Key actions
1
Committee
1
Feb 2, 2026
Upper · Passed
DO PASS committee report adopted
upper
Jan 23, 2026
Introduced
Sent to Senate Committees' Committee & Senate Education Committee & Senate Finance Committee
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.