45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO THE STATE FISC; CREATING THE MEDICAID RESERVE FUND; MAKING AN APPROPRIATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. A new section of the Public Assistance Act is enacted to read:

"[NEW MATERIAL] MEDICAID RESERVE FUND CREATED--APPROPRIATION.--The "medicaid reserve fund" is created in the state treasury. The fund shall consist of all money appropriated to the fund. All earnings of the fund shall be credited to the fund and any unexpended or unencumbered balance in the fund shall not revert to another fund at the end of a fiscal year. Disbursements from the fund shall be by warrant drawn by the secretary of finance and administration pursuant to vouchers signed by the director of the medical assistance division of the human services department. Money in the fund is appropriated to the department to meet shortfalls in the budget for medicaid payments when, pursuant to the rules of the director of the medical assistance division, the amounts appropriated for medicaid payments in the general appropriation act fail to meet the total amount needed."