New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS
Part 1 - GENERAL PROVISIONS
Section 2.79.1.6 - OBJECTIVE
Current through Register Vol. 35, No. 18, September 24, 2024
The Individual Development Account Act (Sections 58-30-1 through 58-30-12 NMSA 1978; being Laws 2003, Chapter 362) established a structure to provide oversight to individual development account programs in New Mexico funded through the act. These rules are designed to:
A. identify and promote quality individual development account initiatives throughout the state while encouraging innovation and diversity;
B. ensure accountability of account owners, account programs, program administrators as well as other stakeholders; and
C. provide standards of eligibility and program administration for individual development account programs in New Mexico.