summary
Introduced
01/20/2022
01/20/2022
In Committee
02/15/2022
02/15/2022
Crossed Over
02/12/2022
02/12/2022
Passed
02/17/2022
02/17/2022
Dead
Signed/Enacted/Adopted
03/01/2022
03/01/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC FINANCES; ENACTING THE VENTURE CAPITAL PROGRAM ACT; CREATING A FUND; PROVIDING FOR INVESTMENTS IN CERTAIN NEW MEXICO BUSINESSES AND PRIVATE EQUITY FUNDS; MAKING AN APPROPRIATION.
AI Summary
This bill enacts the Venture Capital Program Act, which creates a fund administered by the New Mexico Finance Authority. The fund will be used to make investments in venture private equity funds or early-stage New Mexico businesses to support economic development. The authority is required to adopt rules governing the terms and conditions of these investments and can make investments without specific legislative authorization, subject to approval by the authority's board of directors. The bill also requires the authority to submit annual reports to certain legislative committees on the fund's investments and their impact on the state's economic development objectives.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (6)
Meredith Dixon (D)*,
Martin Hickey (D)*,
Linda Serrato (D)*,
Day Hochman-Vigil (D),
Moe Maestas (D),
Javier Martínez (D),
Last Action
Signed by Governor - Chapter 21 - Mar. 1 (on 03/01/2022)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=104&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/final/HB0104.pdf |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0104.pdf |
Loading...