The 'individual development fund' is created in the state treasury. The fund shall consist of appropriations, gifts, grants, donations and bequests made to the fund. Income from the fund shall be credited to the fund, and money in the fund shall not be transferred to any other fund at the end of a fiscal year. Money in the fund is appropriated to the department for the purposes of carrying out the provisions of the Individual Development Account Act. Expenditures shall be made on warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of workforce solutions or the secretary's designee.History: Laws 2006, ch. 96, § 13; 2007, ch. 349, § 13; 2019, ch. 225, § 14. ANNOTATIONSThe 2019 amendment, effective January 1, 2020, replaced 'director of the office of workforce training and development' with 'secretary of workforce solutions'; and replaced each occurrence of 'director' with 'secretary' and each occurrence of 'office' with 'department'.The 2007 amendment, effective July 1, 2007, changes the title of the act and changes the name of the fund from the 'family opportunity fund' to the 'individual development fund'.
New Mexico Legal Code