Bill > HB217

This bill increases the cap for resident veteran contractors to qualify for a bidding preference from $3 million to $10 million in annual gross revenues in the preceding tax year. The bill applies to public works contracts awarded through a formal bid process or a formal request for proposals process, allowing resident veteran contractors with up to $10 million in annual gross revenues to have their bids deemed 10% lower than the actual bid submitted. This change aims to provide more opportunities for veteran-owned businesses to participate in and be awarded public contracts in New Mexico.

Military Affairs and Security

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=217&year=17