24A-3-5. Behavioral health trust fund.
294 words·~1 min read·
/nm/chapter-24a-health-care-code/article-3-interagency-behavioral-health-purchasing/24a-3-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The "behavioral health trust fund" is created as a nonreverting fund in the state treasury. The fund consists of distributions, appropriations, gifts, grants and donations. Income from investment of the fund shall be credited to the fund. Money in the fund shall be expended only as provided in this section.
B. The state investment officer shall invest money in the fund in accordance with the prudent investor rule as set forth in Chapter 6, Article 8 NMSA 1978 and in consultation with the health care authority.
C. The state investment officer shall report quarterly to the legislative finance committee and the state investment council on the investments made pursuant to this section. An annual report shall be submitted no later than October 1 of each year to the legislative finance committee, the revenue stabilization and tax policy committee and any other appropriate interim committees.
D. On July 1, 2026 and each July 1 thereafter, a distribution shall be made from the behavioral health trust fund to the behavioral health program fund in an amount equal to five percent of the average of the year-end market values of the trust fund for the immediately preceding three calendar years. If, on July 1 of a year, the trust fund has been in effect for less than three calendar years, the distribution shall be in an amount equal to five percent of the average of the year-end market values of the trust fund for the immediately preceding number of calendar years that the trust fund has been in effect.
For fiscal years 2026 and 2027, any unexpended or unencumbered balance remaining after the distribution is made in that fiscal year shall be included in the calculation of state reserves.
History: Laws 2025, ch. 2, § 1.