SENATE BILL 66

49th legislature - STATE OF NEW MEXICO - second session, 2010

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 wood industry-related manufacturing project in Cibola county;

          2. a food manufacturing project in Taos county;

          3. an LED/solar commercial manufacturing project in Bernalillo county;

          4. a downtown revitalization project/service industry project in Bernalillo county;

          5. ceramics manufacturing projects in Bernalillo and Dona Ana counties;

          6. renewable biofuels and solar fuel manufacturing projects in southwest New Mexico;

          7. an automotive parts manufacturing project in Luna county;

          8. a steel manufacturing project in the Pueblo of Acoma;

          9. a downtown preservation project in Valencia county;

          10. a hospitality industry project in San Miguel county;

          11. a biotechnology project in Los Alamos county;

          12. a sustainable alternative water source technology manufacturing project in Santa Fe county;

          13. a downtown revitalization project in Socorro county;

          14. a service industry project in Socorro county;

          15. a digital motion picture animation project in Sandoval county;

          16. a workforce training center and incubator project in Lea county;

          17. an expanded polystyrene materials manufacturing project in McKinley county;

          18. a manufacturing project in Bernalillo county;

          19. a food manufacturing project in Luna county;

          20. a solar panel manufacturing project in Luna county;

          21. a food manufacturing project in Chaves county;

          22. a panel production manufacturing project in Bernalillo county;

          23. a solar and solar parts manufacturing project in Bernalillo county;

          24. a hospitality industry project in Hidalgo county;

          25. a hospitality industry project in Luna county;

          26. a hospitality industry project in Chaves county;

          27. a downtown revitalization project and service industry project in Bernalillo county;

          28. a manufacturing project in San Juan county;

          29. a manufacturing project in San Juan county;

          30. a renewable, green energy housing and service industry project in Taos county;

          31. a food processing project in McKinley county;

          32. a downtown revitalization project in Santa Fe county; and

          33. a hospitality industry and historic renovation project in Santa Fe county.

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

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