The "rapid workforce development fund" is created in the state treasury. The fund consists of appropriations and money otherwise accruing to the fund. Money in the fund is subject to appropriation by the legislature to the economic development department for use as provided in Section 6 [50-14A-6 NMSA 1978] of the Rapid Workforce Development Act. Money in the fund shall be disbursed on warrants signed by the secretary of finance and administration pursuant to vouchers signed by the secretary of economic development or the secretary's authorized representative. Any balance remaining in the fund at the end of a fiscal year shall not revert to the general fund.
History: Laws 2016, ch. 23, § 5.
Effective dates. — Laws 2016, ch. 23, § 8 made the Rapid Workforce Development Act effective July 1, 2016.
Delayed repeals. — For delayed repeal of this section, see 50-14A-7 NMSA 1978.
Structure New Mexico Statutes
Article 14A - Rapid Workforce Development
Section 50-14A-1 - Short title. (Repealed effective July 1, 2024.)
Section 50-14A-2 - Purpose. (Repealed effective July 1, 2024.)
Section 50-14A-3 - Definitions. (Repealed effective July 1, 2024.)
Section 50-14A-5 - Rapid workforce development fund created. (Repealed effective July 1, 2024.)
Section 50-14A-6 - Board member powers and duties. (Repealed effective July 1, 2024.)
Section 50-14A-7 - Termination of agency life; delayed repeal. (Repealed effective July 1, 2024.)