Current through 2024, ch. 69
Section 58-30-4 - Eligible individualsA. Except as set forth in Subsections B and C of this section, an eligible individual shall have earned income and shall be: (1) eighteen years of age or older;(2) a citizen, legal resident, refugee, asylee or person otherwise legally present in the United States at the time the person opens the person's individual development account;(3) a resident of New Mexico; andB. A child in foster care is an eligible individual if the child is: (1) fifteen years of age or older;(3) a citizen, a legal resident, a refugee or an asylee or is otherwise legally present in the United States at the time the person opens the person's individual development account; and(4) a resident of New Mexico.C. A child is an eligible individual if the child is: (1) at least fifteen years of age and not more than eighteen years of age;(2) a member of a family whose members are all indigents;(3) a citizen, a legal resident, a refugee or an asylee or is otherwise legally present in the United States at the time the person opens the person's individual development account; and(4) a resident of New Mexico. Laws 2003, ch. 362, § 4; 2006, ch. 96, § 4; 2007, ch. 349, § 4.Amended by 2019, c. 225,s. 5, eff. 1/1/2020.