summary
Introduced
01/21/2017
01/21/2017
In Committee
02/13/2017
02/13/2017
Crossed Over
01/26/2017
01/26/2017
Passed
02/18/2017
02/18/2017
Dead
Vetoed
02/18/2017
02/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO ECONOMIC DEVELOPMENT; ENACTING THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ACT TO PROVIDE FINANCIAL AND TECHNICAL ASSISTANCE TO CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS; CREATING A FUND; MAKING AN APPROPRIATION.
AI Summary
This bill enacts the Community Development Financial Institution Act to provide financial and technical assistance to certified community development financial institutions (CDFIs) in New Mexico. The bill creates the Community Development Financial Institution Fund to administer this assistance, which can be used for developing commercial and community facilities, providing basic financial services, and supporting businesses that provide jobs or products/services to underserved communities. The bill also establishes an advisory committee to advise on the promotion and implementation of the Act, and requires annual reporting on the assistance provided.
Committee Categories
Budget and Finance, Labor and Employment, Transportation and Infrastructure
Sponsors (1)
Last Action
[LD 33] Passed Senate (31-3) Pocket veto by the Governor. (on 02/18/2017)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=342&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/final/HB0342.pdf |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0342.pdf |
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