A. There is created in the state treasury a fund that shall be designated as the “literacy for children at risk fund” that shall be used to set up learning laboratories for the purpose of improving the reading, writing or math literacy level of any child at risk.

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B. The literacy for children at risk fund shall be eligible to receive funds from sources that include, but are not limited to, the following:

(1)     appropriations;

(2)     grants, public and private; and

(3)     gifts, public and private.

All funds received by the department for the literacy for children at risk fund shall be used only to carry out the purposes of the Literacy For Children At Risk Act N.M. Stat. Ann. § 22-13-3.3 to 22-13-3.7.