SENATE BILL 90

49th legislature - STATE OF NEW MEXICO - first session, 2009

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 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 hospitality and tourism facility in Luna county;

          2. a value-added agriculture manufacturing project in Roosevelt county;

          3. a solar photovoltaic project in San Miguel county;

          4. an agricultural processing project in Lea county;

          5. a downtown revitalization project in Eddy county;

          6. a hospitality and tourism facility in Lincoln county;

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

          8. a solar photovoltaic manufacturing project in Quay county;

          9. an electromagnetic mapping manufacturing project in Colfax county;

          10. a wood manufacturing project in Mora county;

          11. a cosmetics manufacturing project in Taos county;

          12. a water conservation production facility in San Juan county;

          13. a clean energy production facility in Cibola county;

          14. an extraction project in Grant county;

          15. an aviation manufacturing project in McKinley county;

          16. a clean heat manufacturing project in Dona Ana county;

          17. a refrigerated air manufacturing project in Grant county;

          18. an agricultural equipment manufacturing project in Union county;

          19. a clean energy site in Valencia county;

          20. a food production facility expansion in Bernalillo county;

          21. an expansion of a production facility in Bernalillo county;

          22. a wood manufacturing project in Otero county;

          23. an aviation manufacturing project in San Juan county;

          24. a historic renovation project in Bernalillo county;

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

          26. a private higher education project in Santa Fe county;

          27. an airplane parts manufacturing facility in Sandoval county;

          28. an assisted living facility expansion in Colfax county;

          29. a beauty products manufacturing facility in Taos county;

          30. an expansion of a water bottling company in Colfax county;

          31. a value-added agriculture manufacturing facility in Dona Ana county;

          32. a health improvement manufacturing project in Bernalillo county; and

          33. a hospitality development 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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