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SB 199: LAND GRANT-MERCED PROJECT FINANCE ACT

An Act Relating To Land Grants; Enacting The Land Grant-merced Project Finance Act; Creating The Land Grant-merced Project Fund; Making An Appropriation.

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MILD SB 199
LAND GRANT-MERCED PROJECT FINANCE ACT

Legislative URL:
SB 199 on nmlegis.gov
Emergency Clause:
No
Germane:
N/A
Location:
HAFC
Action:
SPREF [3] SCONC/SFC-SCONC [6] DP/a-SFC [25] DP/a [29] fl/a- PASSED/S (25-10) [32] HGEIC/HAFC-HGEIC [42] DP-HAFC API.
Issue(s):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
SCONC Committee Report
SFC Committee Report
Senate Floor Amendment 1
Final Senate Vote
HGEIC Committee Report
Fiscal Impact Report
Summary

This bill, for the Interim Land Grant Committee would create the Land Grant-Merced Project Finance Act and the Land Grant-Merced Project Fund, to be administered by the New Mexico Finance Authority. The act is intended to provide efficiency in the capital project procurement process for land grants-mercedes by setting up an administrative structure for managing their capital outlay appropriations.

 

On February 12th the Senate Conservation Committee amended SB 199 to remove four section regarding legislative findings and purpose and detailing the responsibilities of the New Mexico Finance Authority with regard to the fund, as well as conditions for loans and reimbursements to the fund.

 

On March 3rd the Senate Finance Committee amended SB 199 to make a technical correction to the SCONC amendment.

 

On March 7th Senate Floor Amendment 1 made a number of additional technical corrections.

 

A potential benefit might be that the capital outlay appropriations process will be more efficient for land grants-mercedes and lead to better use of funds and using more of the funds on the ground rather than in the administrative process.