N.M. Admin. Code § 8.26.2.16

Current through Register Vol. 35, No. 21, November 5, 2024

Section 8.26.2.16 - FOSTER CARE MAINTENANCE PAYMENTS

A. Reimbursement: Resource families shall receive reimbursement for the care and support of a child in PSD custody placed in their home. Rates are established through legislative appropriation based on the age and needs of the child.

B. Resource parents receiving CYFD foster care and support maintenance payments shall use these funds for the care and support of the identified child in their care, and shall not be considered a source of income and is not recognized as income when filing taxes.

C. PSD shall advise resource parents that they should consult a tax advisor to determine if children in their home may be considered eligible for a federal tax credit under the Internal Revenue Code.

N.M. Admin. Code § 8.26.2.16

8.26.2.16 NMAC - Rp, 8.27.2.28 NMAC, 5/29/09, Amended and Renumbered from 8.26.2.15 by New Mexico Register, Volume XXVI, Issue 18, September 29, 2015, eff. 9/29/2015, Amended by New Mexico Register, Volume XXXII, Issue 10, May 25, 2021, eff. 5/25/2021