HOUSE BILL 245

48th legislature - STATE OF NEW MEXICO - second session, 2008

INTRODUCED BY

Daniel P. Silva

FOR THE NEW MEXICO FINANCE AUTHORITY OVERSIGHT COMMITTEE

AN ACT

RELATING TO FINANCE; AUTHORIZING THE NEW MEXICO FINANCE AUTHORITY TO MAKE LOANS FOR PRIVATE PROJECTS FROM THE ECONOMIC DEVELOPMENT REVOLVING FUND; 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 in the form of loan participations with private lenders for up to forty-nine percent of total individual project financing, not to exceed five million dollars ($5,000,000) per project, 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:

          1. a plant-based biofuel processor and distributor in Bernalillo county;

          2. a sanitation service project in Bernalillo county;

          3. a biomass and renewable energy project in Chaves or Eddy county;

          4. an agricultural processing project in Curry county;

          5. a biomass project in Dona Ana county;

          6. an apparel manufacturing project in Dona Ana county;

          7. an electronic manufacturing project in Dona Ana county;

          8. a downtown revitalization project in Grant county;

          9. a distribution warehouse facility in Lea county;

          10. a value-added agriculture project in Lea county;

          11. a wind farm construction company in Lea county;

          12. a value-added agriculture manufacturing project in Luna county;

          13. a gasification project in McKinley county;

          14. a hospitality and tourism facility that involves value-added agriculture in Otero county;

          15. an alternative energy production project in Otero county;

          16. a particle accelerator systems manufacturing facility in Rio Arriba county;

          17. a downtown revitalization project in Roosevelt county;

          18. an energy production facility in Roosevelt county;

          19. a renewable energy project in Roosevelt, Chaves and Dona Ana counties;

          20. a specialty chemical company in San Juan county;

          21. an aircraft components maintenance and repair services provider in Sandoval county;

          22. a recreational manufacturing and sales facility in Santa Fe county;

          23. a subsea enclosure manufacturer in Santa Fe county;

          24. a value-added agriculture manufacturing project in Santa Fe county;

          25. a transportation manufacturing project in Union county;

          26. a value-added agriculture project in Sandoval, Cibola and Bernalillo counties;

          27. a wood products manufacturer in San Miguel county;

          28. a value-added agriculture project in DeBaca county;

          29. a solar salt project in Eddy county;

          30. a recycling and manufacturing project in McKinley county;

          31. a wood products manufacturer in Santa Fe county;

          32. a downtown revitalization project in Grant county;

          33. a downtown revitalization project in Quay county;

          34. a solar panel manufacturing facility in Bernalillo or Sandoval county;

          35. a metal fabrication manufacturing facility in San Juan county;

          36. an optics production manufacturing facility in Santa Fe county;

          37. a food processing facility and an organic wholesale distribution facility in Curry county; and

          38. expansion of a food services facility in Bernalillo county.

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

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