The school, either through a foundation or other private or public funding sources, shall obtain funding to ensure that the school has adequate revenue to pay for all expenses associated with outreach activities provided for in Section 22-15F-6 NMSA 1978 and for room and board costs for those students who are not able to pay the full cost of room and board as provided in Section 22-15F-7 NMSA 1978. The school shall account separately for the costs of outreach activities and room and board and for the revenue received from private or public sources to pay those costs. The school shall not use money received from the state equalization guarantee distribution for these purposes. Failure of the school to secure adequate funding for these purposes shall be grounds for denial or revocation of a charter.

History: Laws 2008, ch. 15, § 8; 2013, ch. 108, § 2.

The 2013 amendment, effective July 1, 2013, prohibited the use of state equalization guarantee distributions for outreach activities and room and board expenses for students at the school for the arts; in the title, after "activities", deleted "private funding required" and added "use of state equalizaton guarantee distributions prohibited"; in the first sentence, after "or other private", added "or public", after "funding sources", added "shall", after "funding sources shall obtain", deleted "gifts, grants and donations" and adds the word "funding", after "provided for in Section", deleted "6 of the New Mexico School for the Arts Act" and added "22-15F-6 NMSA 1978", and after "as provided in Section", deleted "7 of the New Mexico School for the Arts Act" and added "22-15F-7 NMSA 1978", in the second sentence, after "received from private", added "or public"; and in the third sentence, after "received from the state", added "equalization guarantee distribution".