Bill

Bill > SB1


NM SB1

Behavioral Health Trust Fund


summary

Introduced
01/21/2025
In Committee
02/20/2025
Crossed Over
02/14/2025
Passed
02/21/2025
Dead
Signed/Enacted/Adopted
02/27/2025

Introduced Session

2025 Regular Session

Bill Summary

AN ACT RELATING TO PUBLIC FUNDS; CREATING THE BEHAVIORAL HEALTH TRUST FUND AND THE BEHAVIORAL HEALTH PROGRAM FUND.

AI Summary

This bill creates two new funds in the state treasury: the Behavioral Health Trust Fund and the Behavioral Health Program Fund. The Behavioral Health Trust Fund will be a non-reverting fund composed of distributions, appropriations, gifts, grants, and donations, with investment income credited to the fund. The state investment officer will manage the fund's investments according to the prudent investor rule and must provide quarterly reports to legislative committees. Starting July 1, 2026, 5% of the fund's average year-end market value from the preceding three years will be distributed to the Behavioral Health Program Fund. The Behavioral Health Program Fund, administered by the health care authority, will support behavioral health services and programs, including mental health and substance misuse treatment, infrastructure and workforce support, matching funds for grants, compliance with federal requirements, and implementation of regional behavioral health plans. Expenditures from this fund will require warrants signed by the health care authority secretary, and any unused balance at the end of a fiscal year will revert to the Behavioral Health Trust Fund.

Committee Categories

Budget and Finance, Health and Social Services

Sponsors (19)

Last Action

Signed by Governor - Chapter 2 - Feb. 27 (on 02/27/2025)

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