Bill > HB330

This bill establishes the Land Grant-Merced and Acequia Infrastructure Act, creating two new infrastructure project funds and a corresponding trust fund to support infrastructure development for land grants-mercedes and acequias (traditional community irrigation systems) in New Mexico. The bill defines key terms and establishes two primary entities—the Land Grant Council and the Interstate Stream Commission—with responsibilities for managing infrastructure assistance. These organizations will develop rules for providing grants to land grants-mercedes and acequias for various infrastructure projects, including water and wastewater facilities, electrical lines, roads, health infrastructure, and irrigation works. The bill creates a trust fund that will annually distribute up to 3% of its balance (when over $5 million) equally between the land grant-merced and acequia infrastructure project funds. Additionally, the bill allocates 1.1% of the state's severance tax bonding capacity for each of these infrastructure types, allowing the State Board of Finance to issue bonds specifically for land grant-merced and acequia infrastructure projects. Both the Land Grant Council and the Interstate Stream Commission are required to provide annual reports to legislative committees detailing the expenditures, project progress, and recommendations for improvement. The bill aims to support the infrastructure development and preservation of these traditional New Mexican community institutions.

Agriculture and Natural Resources, Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=330&year=25