A. The "equine shelter rescue fund" is created as a nonreverting fund in the state treasury. The fund consists of appropriations, gifts, grants, donations and amounts designated pursuant to Section 7-2-30.7 NMSA 1978 [repealed]. The board shall administer the fund, and money in the fund is appropriated to the board to carry out the intent of aiding equine rescues and homeless equines in the state.
B. The board shall establish by rule the distribution of funds from the equine shelter rescue fund to equine rescue and retirement facilities registered by the board pursuant to Section 77-2-30 NMSA 1978, taking into consideration the number of equines being cared for in each facility and the need of each facility.