New Mexico 2023 Regular Session

New Mexico Senate Bill SB345

Introduced
2/6/23  

Caption

Kiki Saavedra Senior Dignity Fund Investment

Impact

By enabling the investment of resources into the Kiki Saavedra Senior Dignity Fund, SB345 creates a structured approach to ensure that funds are allocated effectively to address critical services for seniors. The bill mandates that the state investment officer, with input from the state investment council and treasurer, manages fund investments according to the prudent investor rule, ensuring professional management and oversight of public funds. Regular reporting requirements are also established to maintain transparency and accountability regarding how the fund's resources are utilized to meet community needs.

Summary

Senate Bill 345 aims to enhance support for senior citizens in New Mexico through the establishment of the Kiki Saavedra Senior Dignity Fund. This fund, which is created as a non-reverting entity within the state treasury, is dedicated to providing high-priority services for seniors, including improved access to transportation, food resources, physical and behavioral healthcare, case management, and caregiving services. The bill reflects a commitment to addressing the unique needs of older adults and individuals with disabilities, particularly in rural areas of the state where access to services may be limited.

Contention

While the bill generally has received support from various stakeholders, the discussions around its implementation may involve concerns regarding how effectively funds can be allocated to truly meet the diverse needs of the senior population. Additionally, questions may arise regarding prioritization of services and the adequacy of funding against the high demand for such essential services. The commitment to deliver reports on fund investments and expenditures suggests an intention to address potential concerns of misuse or mismanagement of allocated funds.

Companion Bills

No companion bills found.

Previously Filed As

NM SB346

Kiki Saavedra Senior Dignity Fund

NM SB162

Severance Tax Permanent Fund Investments

NM SB202

Standardize State Investment Fund Language

NM SB169

Climate Investment Center & Fund

NM HB175

Alzheimer's Outreach

NM SB119

Investment In Bioscience Companies

NM SB247

Bioscience Company Investments

NM SB413

Investment In Nm Private Equity

NM H92

NC Digital Assets Investments Act

NM SB3

Behavioral Health Reform & Investment Act

Similar Bills

No similar bills found.