A. There is created at the university of New Mexico school of medicine a medical trust fund to be administered by the school of medicine. The fund shall consist of balances transferred to the fund from the dedicated health research fund and any other distributions, transfers and deposits that may be made to the fund. Earnings from investment of the medical trust fund are appropriated to the university of New Mexico school of medicine for cancer and other medical research.
B. The university of New Mexico school of medicine shall report annually to the commission on higher education, the department of health and the legislative finance committee regarding the use of the earnings on the medical trust fund.
History: 1978 Comp., § 24-20-1, enacted by Laws 1993, ch. 358, § 3.
ANNOTATIONSRepeals and reenactments. — Laws 1993, ch. 358, § 3 repealed 24-20-1 NMSA 1978, as enacted by Laws 1986, ch. 13, § 5, creating a dedicated health research fund, and enacted a new section, effective July 1, 1993.