SANTA FE, N.M. (AP) – A House committee has sidelined a measure aimed at shoring up New Mexico’s struggling lottery scholarship program.
With just days remaining until adjournment, the House Ways and Means Committee on Tuesday pulled the brakes on a proposal that would have revamped the funding formula for the scholarship program.
The measure would have removed a requirement that the lottery authority funnel at least 30 percent of its monthly revenue to the scholarship program. Instead, it would have been required to provide at least $41 million a year for scholarships.
Critics were concerned that would limit the incentive to raise more money for scholarships, but higher education officials say without a fix there’s no doubt the program will be affected.
Current estimates show there could be a 30 percent drop in tuition assistance at the end of the 2017 fiscal year.
Copyright 2016 The Associated Press.
