SENATE BILL 359

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

Mary Kay Papen

FOR THE NEW MEXICO FINANCE AUTHORITY OVERSIGHT COMMITTEE

AN ACT

RELATING TO FINANCE; AUTHORIZING THE NEW MEXICO FINANCE AUTHORITY TO PROVIDE FINANCING ASSISTANCE FROM THE ECONOMIC DEVELOPMENT REVOLVING FUND FOR PRIVATE PROJECTS; DECLARING AN EMERGENCY.

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

     Section 1. AUTHORIZATION OF PROJECTS.--Pursuant to the provisions of Sections 6-25-6 and 6-25-13 NMSA 1978, the legislature authorizes the New Mexico finance authority to provide financing assistance from the economic development revolving fund to eligible entities for the following standard projects, subject to detailed analysis, final approval and specific terms and conditions established by the authority:

          A. an alternative energy project in Bernalillo county;

          B. a high-tech manufacturing project in Bernalillo county;

          C. an alternative energy project in Chaves county;

          D. a building products manufacturing project in Chaves county;

          E. a parts manufacturing project in Dona Ana county;

          F. a parts manufacturing project in Eddy county;

          G. an agricultural products manufacturing project in Luna county;

          H. a hotel development project in Rio Arriba county;

          I. a hotel development project in San Miguel county;

          J. a recreation and sports entertainment project in Sandoval county;

          K. a media development project in Santa Fe county; and

          L. an agricultural products manufacturing project in Valencia county.

     Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

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