summary
Introduced
01/19/2021
01/19/2021
In Committee
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC FINANCES; AMENDING THE LOCAL ECONOMIC DEVELOPMENT ACT; INCLUDING RETAIL BUSINESSES LOCATED IN UNINCORPORATED AREAS OF A COUNTY IN THE DEFINITION OF "RETAIL BUSINESS"; CLARIFYING THAT FUNDING MAY BE USED FOR REHABILITATION OR REMODELING AS WELL AS CONSTRUCTION OF A BUILDING FOR USE BY A QUALIFYING ENTITY.
AI Summary
This bill amends the Local Economic Development Act to include retail businesses located in unincorporated areas of a county in the definition of "retail business." It also clarifies that funding may be used for the rehabilitation or remodeling, as well as the construction, of a building for use by a qualifying entity. The bill aims to expand the types of retail businesses and economic development projects that can receive state and local government support and assistance.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Tax, Business and Transportation Committee (00:00 3/11/2021 Room zoom) (on 03/11/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=91&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0091.pdf |
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