A. The teacher cost index for each school district or charter school shall be calculated in accordance with instructions issued by the department. The teacher cost index for a school district in its first year of operations is 1.0. The teacher cost index for a school district or charter school in its second or subsequent year of operations is the greater of 1.0 or the average of the licensure-experience factors of all full-time-equivalent teachers on the school district's or charter school's payroll in October of that year who are assigned classroom teaching responsibilities. The licensure-experience factor of a teacher corresponds to the teacher's licensure level and years of experience and is as follows:

Licensure

Level

Years of Experience

0 to 2

3 to 5

6 to 8

9 to 15

Over 15

1

0.755

0.785

0.800

2

0.994

1.023

1.050

1.123

3

1.184

1.208

1.277.

B. Beginning in 2021, the department, legislative education study committee staff and legislative finance committee staff shall jointly prepare and submit a report by November 1 of each year to the governor, the legislative education study committee and the legislative finance committee that includes:

(1) data on the relationship of licensure-experience factors to actual teacher costs;

(2) an analysis of the relationships among a teacher's licensure level, educational attainment, years of experience and salary; and

(3) recommended changes, if any, to this section of the Public School Finance Act.

C. As used in this section:

(1) "licensure level" is the teaching licensure level as defined in the School Personnel Act [Chapter 22, Article 10A NMSA 1978]; and

(2) "years of experience" is as defined by department rule.

History: Laws 2018, ch. 55, § 5.

Effective date. — Laws 2018, ch. 55, § 9 made Laws 2018, ch. 55, § 5 effective July 1, 2018.