Bill > HB520

This bill establishes the "Sustain the Families Trust Fund" as a new non-reverting fund in the state treasury of New Mexico. The fund will be composed of various sources of money including distributions, appropriations, gifts, grants, and donations, with any investment income being credited back to the fund. The primary purpose of the fund is to provide income subsidies to lower-income residents. The state investment officer, with approval from the state investment council, will be responsible for investing the fund's money in accordance with the Uniform Prudent Investor Act and in consultation with the secretary of health care authority. The investment officer is required to provide quarterly reports to the legislative finance committee and state investment council about the fund's investments, and must submit an annual report by October 1st to the legislative finance committee, the revenue stabilization and tax policy committee, and other appropriate interim committees. These reporting requirements are designed to ensure transparency and accountability in the management of the trust fund.

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https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=520&year=25