Section 21-21P-6 - Scholarship authorized; administration; preference in scholarship awardsA. The department shall administer the Grow Your Own Teachers Act and shall promulgate rules to carry out the provisions of that act. The department shall consult the public education department any time the department promulgates rules relating to the Grow Your Own Teachers Act.B. Scholarships shall be awarded to qualified school employees. Qualifications shall be determined by rule of the department.C. The department shall allocate money to public post-secondary educational institutions based on a student need formula calculated according to income reported on the free application for federal student aid and on the number of students enrolled in each public education department-approved teacher preparation program at a New Mexico public post-secondary educational institution.D. Public post-secondary educational institutions shall make awards to qualifying eligible students based on financial need in an amount not to exceed six thousand dollars ($6,000) per year for not more than five years as determined by rule of the department.E. Money for the scholarship shall be placed in an account at the public post-secondary educational institution in the name of the school employee, and the money may be drawn upon to pay educational expenses charged by the institution, including tuition, fees, books and course supplies.Amended by 2021, c. 11,s. 5, eff. 7/1/2021.