N.M. Admin. Code § 5.7.5.12

Current through Register Vol. 35, No. 23, December 10, 2024

Section 5.7.5.12 - TEACHER LOAN REPAYMENT FUND CREATED AND METHOD OF PAYMENT

A. The "teacher loan repayment fund" is created in the state treasury. All money appropriated for the teacher loan repayment program shall be credited to the fund . Income from the fund shall be credited to the fund, and balances in the fund shall not revert to any other fund. Money in the fund is subject to appropriation by the legislature to the department for making loan repayment awards pursuant to the Teacher Loan Repayment Act.

B. All payments for loan repayment awards shall be made upon vouchers signed by the designated representative of the department and upon a warrant issued by the secretary of finance and administration.

5.7.5.12 NMAC - N, 10/31/2013, Amended by New Mexico Register, Volume XXX, Issue 14, July 30, 2019, eff. 7/30/2019