A participant may establish an individual development account pursuant to the Individual Development Account Act [58-30-1 NMSA 1978].
History: Laws 1998, ch. 8, § 10 and Laws 1998, ch. 9, § 10; 2003, ch. 362, § 14; 2006, ch. 96, § 16; 2007, ch. 349, § 16.
The 2007 amendment, effective July 1, 2007, changes the title of the act and changes "family opportunity account" to "individual development account".
The 2006 amendment, effective July 1, 2006, changes "individual development account" to "family opportunity account" and "Individual Development Account Act" to "Family Opportunity Accounts Act".
The 2003 amendment, effective July 1, 2003, rewrote this section to the extent that a detailed comparison is impracticable.
Structure New Mexico Statutes
Chapter 27 - Public Assistance
Article 2B - New Mexico Works Act
Section 27-2B-1 - Short title.
Section 27-2B-2 - Legislative findings; purpose of act.
Section 27-2B-3 - Definitions.
Section 27-2B-5 - Work requirements; work participation rates.
Section 27-2B-5.1 - Work activities; workers' compensation coverage.
Section 27-2B-5.2 - Work program; public schools.
Section 27-2B-6 - Durational limits.
Section 27-2B-7 - Financial standard of need.
Section 27-2B-9 - Mandatory school attendance.
Section 27-2B-10 - Individual development accounts.
Section 27-2B-11 - Ineligibility.
Section 27-2B-13 - Fair hearing; review and appeal.
Section 27-2B-15 - Medicaid eligibility.
Section 27-2B-16 - Immigrant eligibility.
Section 27-2B-17 - Records; confidentiality.
Section 27-2B-18 - Certification.