A. There is created the “interior design fund”.

Terms Used In New Mexico Statutes 61-24C-16

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

B. All money collected under the Interior Designers Act shall be deposited with the state treasurer. The state treasurer shall credit the money to the interior design fund.

C. Payments out of the interior design fund shall be on vouchers issued by the superintendent of regulation and licensing upon warrants drawn by the department of finance and administration in accordance with the budget approved by that department.

D. All amounts paid to the interior design fund are subject to appropriation by the legislature and shall be used only for meeting necessary expenses incurred in executing the provisions and duties of the Interior Designers Act and for promoting interior design education and standards in the state. All money unused at the end of any fiscal year shall remain in the interior design fund for use in accordance with the provisions of the Interior Designers Act.

  Previous section
Next section  
 Article 24A Contents