About:
Section 21-21K-4 NMSA 1978 (Education Trust Act):
promulgate rules to carry out the act; protect the financial integrity of the fund; preserve program benefits and ensure appropriate use of tax benefits; and determine the cost of attendance at institutions of higher education, which must use the same components and allowances as federal student financial assistance programs.
and,
Section 21-21K-3 NMSA 1978:
administer the education trust fund; enter into contracts with investors; review fund investments at least quarterly; pay institutions of higher education on behalf of beneficiaries; and create separate trust funds of accounts within the fund.
and,
Section 21-21K-5 NMSA 1978:
be a party to college investment agreements; provide for the direct payment of principal, investment earnings and capital appreciation to the institution of higher education the beneficiary actually attends; approve circumstances for predesignation of the beneficiary; establish a refund policy; and annually notify each investor of the status of the fund.
and,
Section 21-21K-6 NMSA 1978:
promulgate rules to establish a prepaid higher education tuition program.
and,
Section 21-21K-7 NMSA 1978:
report annually to the Governor and the appropriate interim committee.
Source: Inventory of Statutory Executive Boards and Commissions, Legislative Council Service 2010 Update
Board Members |
Term Expiration |
| Robert Desiderio |
12/31/06 |
| Dr. Jose Garcia |
12/31/14 |
| Robert G. Heyman |
7/1/15 |
| Theresa Lucero |
7/1/09 |