N.M. Stat. § 58-30-11

Current through 2024, ch. 69

Section 58-30-11 - Reporting

A program administrator operating an individual development account program pursuant to the Individual Development Account Act shall report at least annually to the secretary, as set forth in the rules of the department. Individual account owners shall not be identified in the report. The report shall include:

A. the number of eligible individuals making contributions to individual development accounts;

B. the total money contributed to each individual development account and deposited into each reserve account;

C. the total money in the aggregate deposited in individual development accounts and reserve accounts administered by the individual development account program;

D. the amounts withdrawn from individual development accounts identifying the allowable uses and uses other than allowable uses and the amounts withdrawn from reserve accounts;

E. the balances remaining in individual development accounts and reserve accounts; and

F. other information requested by the secretary to monitor the costs and outcomes of the individual development account program.

NMS § 58-30-11

Laws 2003, ch. 362, § 11; 2005, ch. 111, § 21; 2006, ch. 96, § 11; 2007, ch. 349, § 11.

Amended by 2019, c. 225,s. 12, eff. 1/1/2020.