summary
Introduced
01/25/2022
01/25/2022
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 BUSINESS; EXTENDING THE DATE APPLICATIONS FOR LOANS PURSUANT TO THE SMALL BUSINESS RECOVERY AND STIMULUS ACT MUST BE RECEIVED; EXTENDING THE REVERSION DATE OF UNENCUMBERED MONEY IN THE SMALL BUSINESS RECOVERY LOAN FUND.
AI Summary
This bill extends the deadline for applications for loans under the Small Business Recovery and Stimulus Act to December 31, 2022 and extends the reversion date of unencumbered money in the Small Business Recovery Loan Fund to December 31, 2023. The bill also allows the New Mexico Finance Authority to issue rules to permit businesses without a record of actual losses to apply for the loans, as long as they can satisfy the requirements of the Act. Additionally, the bill provides more details on the terms of the loans, including the maximum loan amount, the required use of loan proceeds, and the authority's ability to require personal guarantees or collateral for loans over $75,000.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (2)
Last Action
Signed by Governor - Chapter 25 - Mar. 1 (on 03/01/2022)
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/Legislation/Legislation?chamber=H&legtype=B&legno=148&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/final/HB0148.pdf |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0148.pdf |
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