Bill > HB388

This bill creates the "Cybersecurity Fund" in the New Mexico state treasury, which will be used to respond to and recover from cyber attacks on information technology systems or databases operated by state government, political subdivisions, public schools, or tribal entities. The fund will be administered by the Department of Information Technology, and later by the Cybersecurity Office if a related bill becomes law. The bill also appropriates $35 million from the general fund to the Cybersecurity Fund for expenditure in fiscal year 2024 and beyond, with any unexpended or unencumbered balance remaining at the end of a fiscal year not reverting to the general fund.