The 'opportunity scholarship fund' is created as a nonreverting fund in the state treasury, consisting of income from investment of the fund and any specified distributions, appropriations, gifts, grants and donations to the fund. Money in the fund is appropriated to the department for scholarship awards as provided in the Opportunity Scholarship Act. Expenditures from the fund shall be by warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of higher education or the secretary's authorized representative.History: Laws 2022, ch. 42, § 7. ANNOTATIONSEffective dates. — Laws 2022, ch. 42, § 11 made Laws 2022, ch. 42, § 7 effective July 1, 2022.Temporary provisions. — Laws 2022, ch. 42, § 9 provided that on July 1, 2022, the Opportunity Scholarship Act:A. all balances of the legislative endowment scholarship fund and the college affordability endowment fund shall be transferred to the opportunity scholarship fund; andB. any appropriation to the opportunity scholarship program within the General Appropriation Act of 2022 shall be transferred to the opportunity scholarship fund.
New Mexico Legal Code