- Associated Press - Tuesday, February 16, 2016

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 © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide