Bill > SB183

This bill provides a $100,000 appropriation from the New Mexico state general fund to the economic development department specifically for the Lower Estancia Valley region. The funds are intended to be used in fiscal year 2026 to contract with a local economic development organization to pursue multiple objectives: strengthening and expanding business income potential, promoting civic, social, and cultural programs that enhance community value, and identifying and addressing obstacles to business expansion and community growth. The bill specifies that any unspent money at the end of fiscal year 2026 will be returned to the general fund, ensuring fiscal accountability and proper use of the allocated resources. By targeting a specific geographic area with a focused economic development strategy, the bill aims to support local economic revitalization and community improvement efforts in the Lower Estancia Valley.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=183&year=25