A. There is created in the state treasury the "election fund" solely for the purposes of:

(1) paying the costs of conducting and administering statewide elections required by the Election Code;

(2) reimbursing the counties for the costs of conducting and administering statewide elections required by the Election Code;

(3) paying the administrative costs of the office of the secretary of state for administering elections required by the Election Code and for administering the election fund; and

(4) carrying out all other specified provisions of the Election Code not already covered by another fund administered by the secretary of state.

B. The state treasurer shall invest the election fund as other state funds are invested, and all income derived from the fund shall be credited directly to the fund. Remaining balances at the end of a fiscal year shall remain in the fund and not revert to the general fund. Money in the fund is appropriated to the office of the secretary of state for the purposes authorized in Subsection A of this section. Money in the fund shall only be expended on warrants of the department of finance and administration pursuant to vouchers signed by the secretary of state or the secretary's designee.

C. Money received from the following sources shall be deposited directly into the election fund:

(1) money appropriated to the fund by the legislature;

(2) reimbursements from the state or a local government for elections costs; and

(3) grants received by the secretary of state.

D. In the event that current year balances in the election fund do not cover the costs of elections, the secretary of state may apply to the state board of finance for an emergency grant to cover those costs pursuant to Section 6-1-2 NMSA 1978.

History: Laws 2018, ch. 79, § 33; recompiled and amended as § 1-11-19 by Laws 2019, ch. 212, § 110.

Recompilations. — Laws 2019, ch. 212, § 110 recompiled and amended former 1-22-20 NMSA 1978 as 1-11-19 NMSA 1978, effective April 3, 2019.

Temporary provisions. — Laws 2019, ch. 212, § 282 provided that in fiscal years 2019 and 2020, if sufficient funding is deemed available by the secretary of state no later than May 1, 2019 and May 1, 2020, money in the election fund may be expended to reimburse local governments for transitional costs associated with implementation of the Local Election Act, based on written guidance provided by the secretary of state and posted on the secretary's website no later than May 1, 2019 and May 1, 2020.

The 2019 amendment, effective April 3, 2019, effective April 3, 2019, revised the purpose of the election fund; changed "Local Election Act" to "Election Code" throughout; in Subsection A, added a new Paragraph A(1) and redesignated former Paragraphs A(1) through A(3) as Paragraph A(2) through A(4), in Paragraph A(4), after "Election Code" added "not already covered by another fund administered by the secretary of state"; in Subsection B, after "revert to the general fund", added the remainder of the subsection; in Subsection C, deleted former Paragraph C(1) and redesignated former Paragraph C(2) as Paragraph C(1), added new Paragraphs C(2) and C(3); deleted Subsection D and redesignated former Subsection E as Subsection D; and deleted former Subsection F.