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SFC/SB 241 Page 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 AN ACT RELATING TO CHILDREN; ENACTING THE CHILD CARE ASSISTANCE PROGRAM ACT; ESTABLISHING THE CHILD CARE ASSISTANCE PROGRAM; PROVIDING FOR PAYMENTS TO CHILD CARE FACILITIES THAT PARTICIPATE IN THE CHILD CARE ASSISTANCE PROGRAM; PROVIDING ELIGIBILITY AND REGULATORY REQUIREMENTS; PROVIDING FOR ADDITIONAL APPROPRIATIONS TO THE EARLY CHILDHOOD EDUCATION AND CARE PROGRAM FUND. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 9-29A-1 NMSA 1978 (being Laws 2020, Chapter 3, Section 1, as amended) is amended to read: "9-29A-1. EARLY CHILDHOOD EDUCATION AND CARE FUND.-- A. The "early childhood education and care fund" is created within the state treasury. The fund shall consist of distributions, appropriations, gifts, grants and donations. Income from investment of the fund shall be credited to the fund. Money in the fund shall be expended only as provided in this section. B. The state investment officer, subject to the approval of the state investment council, shall invest money in the early childhood education and care fund: (1) in accordance with the prudent investor rule set forth in the Uniform Prudent Investor Act; and (2) in consultation with the state