This bill is a memorial requesting the Children, Youth and Families Department of New Mexico to conduct a study aimed at determining fair compensation for foster parents. It acknowledges the vital role that foster care parents and resource families play in providing love, support, and stability to children in their care, while also recognizing the financial burdens they often face due to the costs associated with fostering. The bill emphasizes the importance of these families in helping children grow into confident and responsible adults, despite the challenges they encounter.

The memorial specifically requests that the study include considerations for a cost-of-living allowance for foster parents and mandates that the findings and recommendations be reported to the legislative health and human services committee by November 30, 2026. Additionally, it calls for copies of the memorial to be sent to the secretary of children, youth and families and the legislative health and human services committee to ensure that the information reaches the appropriate stakeholders.