New Mexico Statutes 21-22D-13. Osteopathic physician excellence fund; creation;
administration; appropriation.
Terms Used In New Mexico Statutes 21-22D-13
- 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.
The “osteopathic physician excellence fund” is created in the state treasury to support awards established through the Health Professional Loan Repayment Act to osteopathic primary care physicians who practice in areas of New Mexico that the department has designated as underserved. The fund consists of license application and renewal surcharges pursuant to Section 61-10-6.1 N.M. Stat. Ann., appropriations, gifts, grants, donations and income from investment of the fund. Any income earned on investment of the fund shall remain in the fund. Money in the fund shall not revert to any other fund at the end of a fiscal year. The fund shall be administered by the department, and money in the fund is appropriated to the department to make awards established through the Health Professional Loan Repayment Act to osteopathic primary care physicians who practice in areas of New Mexico that the department has designated as underserved. Disbursements from the fund shall be made only upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary of higher education or the secretary’s authorized representative.