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NEW MEXICO STATUTES AND CODES
Section 6-24-23 - Lottery tuition fund created; purpose.
6-24-23. Lottery tuition fund created; purpose.
A. The "lottery tuition fund" is created in the state treasury. The fund shall be administered by the commission on higher education [higher education department]. Earnings from investment of the fund shall accrue to the credit of the fund. Any balance in the fund at the end of any fiscal year shall remain in the fund for appropriation by the legislature as provided in this section.
B. Money in the lottery tuition fund is appropriated to the commission on higher education[higher education department] for distribution to New Mexico's public post-secondary educational institutions to provide tuition assistance for New Mexico resident undergraduates as provided by law.