Bill would offer eligible New Mexico families $9,000 if funded

The Early Childhood Education and Care Department would pay $9,000 per child, normally in three monthly payments of $3,000. Parents and legal guardians of newborn or newly adopted children must have lived in New Mexico for at least six months during the twelve months immediately before birth or adoption. Payments would depend on money being available in the welcome child benefit fund. Only one benefit would be allowed per child. Monthly payments could be split evenly between eligible custodial parents. Each January 1 starting in 2030, the benefit would be adjusted for inflation without falling below the prior fiscal year's amount. Payments would cover the three months following approval. Approval at least 90 days after birth, adoption, or appointment as guardian would trigger one lump-sum payment.

Applicants would provide records showing the child's birth, adoption, or guardianship date, their relationship to the child, their New Mexico residency, and deposit account information. These requirements would apply to people applying for the welcome child benefit. Applicants who willfully or knowingly provide fraudulent documents would be ineligible. The Early Childhood Education and Care Department would promptly explain denials and promptly pay approved applicants under the benefit's payment schedule. The secretary of early childhood education and care would adopt rules for running the program by July 1, 2027.

The Early Childhood Education and Care Department would manage a welcome child benefit fund and use its money for these payments. The money would come from the early childhood education and care fund. The welcome child fund could also hold other state funding, gifts, grants, donations, and investment income. The annual transfer would follow the required transfer to the early childhood education and care program fund. The welcome child fund would receive $189 million, or the source fund's remaining balance if that balance is smaller. Unused money would stay in the welcome child fund. The annual transfer would occur on July 1.