STATE STATUTES & CODES
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NEW MEXICO STATUTES AND CODES
Section 21-21J-8 - Fund created.
21-21J-8. Fund created.
The "legislative endowment scholarship fund" is created in the state treasury. Money in the fund is appropriated to the commission to carry out the purposes of the Legislative Endowment Scholarship Act [21-21J-1 NMSA 1978]. Money appropriated to the legislative endowment scholarship fund shall not be expended but shall be invested by the commission in coordination with the state investment council and state treasurer's office. Income earned from investment of the fund shall be expended by the commission for the purpose of providing legislative endowment scholarships to students at two-year public post-secondary educational institutions pursuant to the Legislative Endowment Scholarship Act.