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NM HM7

NM HM7
Study Nmfa Accessibility


summary

Introduced
01/18/2017
In Committee
01/20/2017
Crossed Over
Passed
Dead
03/18/2017

Introduced Session

2017 Regular Session

Bill Summary

A MEMORIAL REQUESTING THE LEGISLATIVE FINANCE COMMITTEE TO UNDERTAKE A STUDY OF WAYS IN WHICH THE RESOURCES OF THE NEW MEXICO FINANCE AUTHORITY MIGHT BE MADE MORE ACCESSIBLE TO PERSONS AND BUSINESSES IN NEW MEXICO, INCLUDING THE OPTION OF FORMING A STATE-OWNED BANK. .

AI Summary

This Memorial requests that the Legislative Finance Committee, a state legislative body responsible for overseeing state finances, conduct a study on how to make the resources of the New Mexico Finance Authority (NMFA), a state agency that provides financial assistance and services, more accessible to individuals and businesses in New Mexico. The study is specifically asked to explore the feasibility of establishing a state-owned bank, similar to models in other states like North Dakota, which could help stabilize the economy, improve access to credit for local businesses, support economic development, and potentially generate revenue for the state. The committee is required to report its findings to relevant legislative committees by October 1, 2017.

Committee Categories

Labor and Employment

Sponsors (2)

Last Action

[LD 12] Tabled temporarily by motion and then to H (on 01/28/2017)

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