Early Childhood Education and Care Fund

House Bill 83 was signed into law by Governor Michelle Lujan Grisham in February 2020, creating an Early Childhood Education and Care Fund.  The endowment will be managed by the SIC in a manner similar to the existing permanent funds. The Fund was established with $300 million on July 1, 2020. In FY22, the fund will distribute $20 million to the Early Childhood Education Department. Thereafter, the fund will distribute the greater of $30 million or 5 percent of the three-year average of the Fund to the. Early Childhood Education Department.