Bill > HB195

This bill amends the Opportunity Enterprise Act to create the Opportunity Enterprise and Housing Development Act. The key provisions are: 1. Allows the New Mexico Finance Authority to provide housing development loans and creates the Housing Development Revolving Fund to support these loans. 2. Expands the Opportunity Enterprise Review Board to include housing development and renames it the Opportunity Enterprise and Housing Development Review Board. The board is tasked with recommending rules, prioritizing projects, and determining if public funds are prudently used. 3. Establishes requirements for enterprise assistance (financing, leases, and loans) to opportunity enterprise partners and housing development assistance (loans) to housing development partners. This includes demonstrating the project will create or expand economic development or housing opportunities. 4. Creates reporting requirements for the Authority on the use of the Opportunity Enterprise Revolving Fund and Housing Development Revolving Fund, including details on the projects supported and their economic and housing impacts. Overall, the bill aims to expand the Authority's role in supporting both economic development and housing development projects across the state.

Business and Industry, Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=195&year=24