Section 58-30-11 - Reporting. - New Mexico Statutes

58-30-11. Reporting.

A program administrator operating an individual development account program pursuant to the Individual Development Account Act [58-30-1 NMSA 1978] shall report at least annually to the director, as set forth in the rules of the office.  Individual account owners shall not be identified in the report.  The report shall include:

A.     the number of eligible individuals making contributions to individual development accounts;

B.     the total money contributed to each individual development account and deposited into each reserve account;

C.     the total money in the aggregate deposited in individual development accounts and reserve accounts administered by the individual development account program;

D.     the amounts withdrawn from individual development accounts for either allowable uses or for uses other than allowable uses and the amounts withdrawn from reserve accounts;

E.     the balances remaining in individual development accounts and reserve accounts; and

F.     other information requested by the director to monitor the costs and outcomes of the individual development account program.