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Code · New Mexico · Chapter 33 — Correctional Institutions · Article 8 — Corrections Industries

33-8-7. Corrections industries revolving fund created.

118 words·~1 min read·/nm/chapter-33-correctional-institutions/article-8-corrections-industries/33-8-7·

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There is created in the state treasury a fund which shall be administered by the department secretary as directed by the commission and which shall be known as the "corrections industries revolving fund." All income, receipts and earnings from the operation of enterprises shall be credited to the fund. Money deposited in the fund shall be used only to meet necessary expenses incurred in the maintenance, operation and expansion of existing enterprises and in the establishment, maintenance, operation and expansion of new enterprises. All interest earned on money in the fund shall be credited to the fund. No part of the fund shall revert at the end of any fiscal year.
History: Laws 1981, ch. 127, § 7.
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