A. The "next generation fund" is created in the state treasury. The next generation fund may be used for any purpose enumerated in Section 24-19-2 NMSA 1978. All income received from investment of the fund shall be credited to the fund. No money appropriated to the fund or otherwise accruing to it shall be disbursed in any manner except as provided in the Children's Trust Fund Act.
B. The fund shall be used to fund next generation fund projects and programs that are approved by the board. Next generation fund projects and programs shall:
(1) provide positive child and youth development activities that support physical, mental and social well-being;
(2) promote strong, healthy families and help to prevent child abuse and neglect;
(3) promote community service, leadership and citizenship; and
(4) provide community coordination of child and youth development programming across the age zero to twenty-four developmental continuum.
C. The next generation fund shall be administered by the department, and the income from investment of the fund is appropriated to the department to carry out the purposes of the fund. None of the income shall be used for capital expenditures. Grants, distributions and transfers of money from the fund shall be made only from the income received from investment of the fund.
D. Up to ten percent of the income received from investment of the fund may be expended for costs of administering the fund and next generation projects and programs. Administrative costs include per diem and mileage, staff salaries and expenses related to administration of the fund.
E. Disbursements from the fund shall be made by warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary of children, youth and families or the secretary's designated representative.
History: Laws 2005, ch. 65, § 5; 2013, ch. 25, § 8.
ANNOTATIONSThe 2013 amendment, effective June 14, 2013, authorized the use of the next generation fund for next generation programs; in Subsection B, in the first sentence, after "next generation fund projects", added "and programs" and in the second sentence, after "Next generation fund projects", added "and programs"; and in Subsection D, in the first sentence, after "next generation projects", added "and programs".