New Mexico Statutes Chapter 65. Motor Carriers § 65-7-19. Transportation network fund created; assessment and collection of fees

A. The “transportation network fund” is created in the state treasury for the purpose of ensuring the safety and financial responsibility of transportation network companies and transportation network company drivers. The fund shall consist of fees collected pursuant to the Transportation Network Company Services Act, appropriations, gifts, grants, donations and earnings on investment of the fund. Balances in the fund shall not revert to the general fund or any other fund at the end of any fiscal year.

B. The transportation network fund shall be administered by the department of transportation. Money in the fund is appropriated to the department to carry out its duties pursuant to the provisions of the Transportation Network Company Services Act. Not more than five percent of the fees collected pursuant to this section shall be used by the department for administrative purposes.

C. Payments from the transportation network fund shall be made upon vouchers issued and signed by the secretary of transportation or the secretary's authorized representative upon warrants drawn by the secretary of finance and administration.