The Trade Education Assistance Act establishes a framework to support individuals pursuing trade education in New Mexico. It creates the Trade Education Assistance Fund, which will be administered by the higher education department. The Act defines eligibility criteria for individuals to receive stipends, including residency, educational background, participation in an approved trade education program, and dependent status. Stipends can be awarded for up to six months and may be renewed for a total of two years, with a maximum amount of $30,000 per calendar year. The department is tasked with overseeing the program, including rulemaking and annual reporting on the fund's status and stipend distribution.

Additionally, the Act appropriates $100 million from the general fund to the Trade Education Assistance Fund for use in fiscal year 2026 and beyond, ensuring that any unspent funds do not revert to the general fund. The provisions of the Act are set to take effect on July 1, 2025.