The "horse racing integrity and safety authority and jockey and exercise rider insurance fund" is created as a nonreverting fund in the state treasury. The fund consists of money collected by the commission to offset the costs of jockey and exercise rider insurance and to comply with federal and state laws affecting horse racing as provided in Section 60-2E-47 NMSA 1978, distributions, appropriations, income from investment of the fund, gifts, grants, donations and bequests. The fund shall be administered by the commission, and money in the fund is appropriated to the commission to pay the costs of complying with Section 60-2E-47 NMSA 1978. Disbursements from the fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers signed by the executive director of the commission or the executive director's designee.

History: Laws 2025, ch. 114, § 1.

ANNOTATIONS

Effective dates. — Laws 2025, ch. 114 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 2025, 90 days after adjournment of the legislature.

Delayed repeals. — For delayed repeal of this section, see 60-1A-29 NMSA 1978.