NM HB149

Expands the definition of "qualified entity" under the New Mexico Finance Authority Act to include nonprofit foundations or support organizations affiliated with charter schools, enabling these entities to receive loans from the Charter School Facility Revolving Fund for facility acquisition, construction, expansion, or renovation

Increases the minimum lease assistance grant amount for charter schools from $700 to $1,052 per student (MEM), with annual adjustments based on consumer price index changes, and requires the grant amount to be the greatest of authorized amounts rather than capped at the lesser amount

Limits a charter school's local share for public school capital outlay projects that qualify under the educational adequacy category to no more than ten percent of the project cost

Allows charter schools to use lease assistance grants for repayment of principal, interest, and fees on charter school facility loans made by the New Mexico Finance Authority

Transfers $20 million from the Public School Capital Outlay Fund to the Charter School Facility Revolving Fund upon the effective date of the act