Bill > HB21

This bill, titled the "Land Grant-Merced and Acequia Infrastructure Act," establishes a framework for funding infrastructure projects for land grants-mercedes (designated political subdivisions managing historical land grants) and acequias (community ditches organized as political subdivisions). It creates a central "Land Grant-Merced and Acequia Infrastructure Trust Fund" which will receive various funds and be invested. Annual distributions from this trust fund will be made to two separate project funds: the "Land Grant-Merced Infrastructure Project Fund," administered by the Department of Finance and Administration in consultation with the Land Grant Council, and the "Acequia Infrastructure Project Fund," administered by the Department of Finance and Administration in consultation with the Interstate Stream Commission. Both funds will provide grants or loans for qualified infrastructure projects, which can include water and wastewater facilities, electrical power, communications, roads, health and emergency response infrastructure, and projects to encourage economic development for land grants-mercedes, and for the planning, design, or construction of irrigation works for acequias. The bill also amends existing law to allocate a portion of severance tax bond capacity for these land grant-merced and acequia infrastructure projects, with specific allocations for each. Importantly, Section 10, which details these severance tax bond allocations, is set to be repealed on July 1, 2032, and the entire act becomes effective on July 1, 2026.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=21&year=26