Bill > HB469

This bill comprehensively reforms the Border Development Authority, making significant changes to its structure, membership, and operational guidelines. The bill expands the authority's board from seven to nine members, including representatives from state agencies, the private sector, local government, and the state legislature, with specific professional qualification requirements for appointed members. The executive director position now requires a doctorate or bachelor's degree in specific fields, along with four years of professional experience in business management or related areas. The bill broadens the authority's scope beyond just the New Mexico-Chihuahua border to include the broader New Mexico-Mexico border region, and enhances its powers to include creating economic development programs, recruiting industries, and facilitating cross-border communication. The legislation also modifies financial management provisions, including changes to the Border Authority Fund and Border Project Fund, detailing how funds can be collected, invested, and spent. Additionally, the bill requires annual reporting to the legislative finance committee and provides for a complete restructuring of the authority's voting membership on July 1, 2026, with new members appointed according to the updated requirements. The changes aim to improve the authority's effectiveness in promoting economic development and cross-border collaboration.

Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=469&year=25