Bill > HB25

This bill, the Resident Business Set-Aside Act, aims to support the state's economy by ensuring that a fair proportion of the state's total contracts for construction, property, and services is awarded to resident businesses. The key provisions include: 1) Requiring that at least 33% of a contracting agency's contracts be awarded to resident businesses, defined as businesses that have paid state taxes and meet other requirements to receive a resident business certificate from the Taxation and Revenue Department. 2) Allowing contracting agencies to designate certain contracts or portions of contracts as "resident business set-aside contracts" that can only be bid on by resident businesses. 3) Establishing a certification process for resident businesses and resident contractors, including requirements related to state tax payments and employment of state residents. 4) Requiring contracting agencies to submit annual reports on their contracts with resident businesses, which will be compiled into a statewide report. The bill also directs the General Services Department to consult with affected industries and promulgate rules to implement the act, which takes effect on July 1, 2017.

Business and Industry, Justice, Labor and Employment, Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=25&year=17