Bill > HB135

This bill amends the Local Economic Development Act (LEDA) to require qualifying entities seeking public support for economic development projects to conduct a comprehensive housing study before submitting their application. The housing study must be a multivariable estimate of housing demand created by new employment, specifically focusing on new full-time economic base jobs expected from the proposed project. Importantly, the bill stipulates that the study cannot rely solely on a cost burden analysis, indicating a need for a more nuanced examination of housing impacts. The housing study findings must be included in the application and will become a key factor in the local or regional government's evaluation of the economic development project. This requirement aims to ensure that economic development projects consider the potential housing needs and implications for the communities where they will be implemented, encouraging more holistic and sustainable economic growth. The bill modifies several sections of existing law to incorporate these new housing study requirements, including definitions, application procedures, and project evaluation criteria.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=135&year=25