Bill > HB82

This bill, the Historically Underutilized Business Opportunity Act, aims to stimulate economic development and job creation by promoting equal business opportunities for all businesses. It encourages and sets goals for the use of historically underutilized businesses (HUBs) by state agencies in public purchasing decisions and requires the collection of data on HUB usage. HUBs are defined as for-profit businesses with average gross revenues under $5 million or fewer than 50 New Mexico resident employees, and are at least 50% owned by women or racial/ethnic minorities. The bill outlines duties for the Taxation and Revenue Department to certify HUBs, the General Services Department to maintain a database and provide training, and state agencies to establish HUB utilization goals and report on their contracting with HUBs.

Budget and Finance, Business and Industry, Government Affairs, Justice

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=82&year=21