The 'indigent catastrophic illness hospital fund' is created as a nonreverting fund in the state treasury. Money in the fund is appropriated to the authority to reimburse hospitals for eligible claims for hospital charges incurred by medically indigent patients and for paying administrative costs of the authority not to exceed three percent of the annual appropriation or other distribution or transfer to the fund. Money in the fund shall be invested as provided for other state funds and income earned on the fund shall be credited to the fund.History: Laws 1990, ch. 93, § 4; 2024, ch. 39, § 85.ANNOTATIONSThe 2024 amendment, effective July 1, 2024, substituted the human services department with the health care authority as the administrator of the indigent catastrophic illness hospital fund; after 'indigent catastrophic illness hospital fund'' added 'is created as a nonreverting fund in the state treasury', after 'appropriated to the' deleted 'department for the purpose of reimbursing' and added 'authority to reimburse' after 'costs of the' deleted 'department' and added 'authority' and deleted 'No balance remaining at the end of any fiscal year shall revert to the general fund.'.
New Mexico Legal Code