N.M. Stat. Ann. § 9-15-19
The "technology and innovation fund" is created as a nonreverting fund in the state treasury to replace the technology enterprise fund. The fund consists of distributions, appropriations, gifts, grants, donations, money from cooperative research and technology transfer agreements and income from investment of the fund. The economic development department shall administer the fund. Money in the fund is subject to appropriation by the legislature for administering the provisions of Section 2 [9-15-15.3 NMSA 1978] of this 2025 act. Expenditures from the fund shall be by warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of economic development or the secretary's authorized representative.
History: 1978 Comp., § 9-15-19, enacted by Laws 1991, ch. 21, § 24; repealed and reenacted by Laws 2025, ch. 133, § 14.
Repeals and reenactments. — Laws 2025, ch. 133, § 14 repealed former 9-15-19 NMSA 1978 and enacted a new section, effective July 1, 2025.
Laws 1991, ch. 21, § 24 repealed former 9-15-19 NMSA 1978, as enacted by Laws 1986, ch. 38, § 4, relating to creation of New Mexico research and development institute, and enacted a new section, effective March 27, 1991.
Temporary provisions. — Laws 2025, ch. 133, § 15 provided that:
A. On July 1, 2025:
(1) the office of strategy, science and technology of the economic development department and the office of entrepreneurship of the economic development department, including the functions, personnel, appropriations, money, records and other property of those offices, shall be transferred to the technology and innovation division of the economic development department; and
(2) money in the technology enterprise fund shall be transferred to the technology and innovation fund.
B. The secretary of economic development shall assign other programs and funds management to the appropriate division.
C. Contractual obligations of any of the transferred units of the economic development department shall continue to be obligations of the department.