Bill > HB25

This bill establishes the Land Grant-Merced Infrastructure Act, creating two new funds to support infrastructure development for land grants-mercedes (specific land grant entities designated as political subdivisions in New Mexico). The bill creates a Land Grant-Merced Infrastructure Trust Fund, which will receive an initial $20 million appropriation and will make annual distributions of $18 million to a companion Land Grant-Merced Infrastructure Project Fund. The project fund can be used to provide grants for various infrastructure needs, including water and wastewater facilities, electrical power lines, roads, health infrastructure, and economic development projects. The Land Grant Council will oversee the fund, developing rules for grant applications and project selection, with projects ranging from infrastructure planning and construction to equipment purchases. The bill also amends existing law to allocate 1.1% of severance tax bonding capacity specifically for land grant-merced infrastructure projects. Legislative oversight is built into the process, with the council required to report annually on fund expenditures and project progress, and proposed rules to be reviewed by a legislative interim committee focused on land grant-merced issues.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=25&year=25