HOUSE BILL 222

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

James Roger Madalena

AN ACT

RELATING TO ECONOMIC DEVELOPMENT; AMENDING THE NEW MEXICO COMMUNITY ASSISTANCE ACT TO PROVIDE FOR STATE LOANS TO INDIAN NATIONS, TRIBES AND PUEBLOS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 21-19-10 NMSA 1978 (being Laws 1983, Chapter 299, Section 4, as amended) is amended to read:

     "21-19-10. COMMUNITY DEVELOPMENT ASSISTANCE.--The economic development department shall provide assistance to political subdivisions of the state and to the governments of Indian nations, tribes and pueblos in the state so that they can construct or implement projects necessary to provide services that will encourage the location of industry in the political subdivisions and in Indian country. The department shall, for this purpose, make low-interest loans to political subdivisions of the state and to the governments of Indian nations, tribes and pueblos in the state with the approval of the economic development commission and the tourism commission and after coordination with the local government division of the department of finance and administration pursuant to the New Mexico Community Assistance Act."

     Section 2. Section 21-19-11 NMSA 1978 (being Laws 1983, Chapter 299, Section 5, as amended) is amended to read:

     "21-19-11. FUNDS CREATED.--

          A. There is created in the state treasury the "development training fund". Money appropriated to the fund or accruing to it through gifts, grants, repayments or bequests shall not be transferred to any other fund or be encumbered or disbursed in any manner except as provided in Section 21-19-7 NMSA 1978. Money in the fund shall not revert at the end of any fiscal year. Money in the fund is appropriated to the economic development department. Money in the fund shall be expended upon warrant drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary of economic development or [his] the secretary's authorized representative to carry out the purposes specified in Section 21-19-7 NMSA 1978.

          B. There is created in the state treasury the "development fund". Money appropriated to the fund or accruing to it through gifts, grants, repayments or bequests shall not be transferred to any other fund or be encumbered or disbursed in any manner except as provided in this subsection. Money in the fund shall not revert at the end of any fiscal year. Money in the fund shall be administered by the economic development department or its successor for the purpose of making low-interest loans to political subdivisions of the state and to the governments of Indian nations, tribes and pueblos in the state so that they can construct or implement projects necessary to provide services that will encourage the location of industry in the political subdivisions and in Indian country. The economic development department shall coordinate these loans with the local government division of the department of finance and administration pursuant to the New Mexico Community Assistance Act. Money in the fund shall be expended as provided in Section 21-19-10 NMSA 1978."

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