SB 421
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AN ACT
RELATING TO HEALTH INSURANCE; PROVIDING FOR EXPENDITURES OF A
PRESCRIPTION DRUG PROGRAM; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Section 61-11-19 NMSA 1978 (being Laws 1969,
Chapter 29, Section 18, as amended) is amended to read:
"61-11-19. FUND ESTABLISHED--DISPOSITION--METHOD OF
PAYMENT.--
A. There is established in the state treasury the
"pharmacy fund".
B. All funds received by the board and all money
collected under the Pharmacy Act or any other act
administered by the board shall be deposited with the state
treasurer for credit to the pharmacy fund.
C. Payments from the pharmacy fund shall be made
upon warrants of the secretary of finance and administration
on vouchers issued in accordance with the budget approved by
the department of finance and administration.
D. Amounts paid into the pharmacy fund prior to
October 1, 2005 pursuant to Paragraph (2) of Subsection C of
Section 61-11-14 NMSA 1978 are appropriated to the board for
a prescription drug program serving persons pursuant to the
Medical Insurance Pool Act; provided that the board enters
into an arrangement with a state agency or a state-created
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SB 421
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entity for the operation of the program.
E. All amounts paid into the pharmacy fund shall
only be used for the purpose of meeting necessary expenses
incurred in the enforcement of the purposes of the Pharmacy
Act and any other acts administered by the board, the duties
imposed thereby and the promotion of pharmacy education and
standards in this state. All money unused at the end of the
fiscal year shall remain in the pharmacy fund for use in
accordance with the provisions of the Pharmacy Act.
F. All funds that may have accumulated to the
credit of the pharmacy fund shall be continued for use by the
board in administration of the Pharmacy Act."