New Mexico 2023 Regular Session

New Mexico House Bill HB213 Compare Versions

Only one version of the bill is available at this time.

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28	28	HOUSE BILL 213
29	29	56
30	30	TH LEGISLATURE
31	31	-
32	32
33	33	STATE
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35	35	OF
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37	37	NEW
38	38
39	39	MEXICO
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41	41	-
42	42	FIRST SESSION
43	43	,
44	44
45	45	2023
46	46	INTRODUCED BY
47	47	Joy Garratt and Patricia A. Lundstrom and Cathrynn N. Brown
48	48	AN ACT
49	49	RELATING TO PUBLIC PROJECTS; ENACTING THE PUBLIC-PRIVATE
50	50	PARTNERSHIP ACT; ALLOWING PUBLIC PARTNERS TO ENTER INTO PUBLIC-
51	51	PRIVATE PARTNERSHIP AGREEMENTS TO FACILITATE PUBLIC PROJECTS;
52	52	CREATING THE PUBLIC-PRIVATE PARTNERSHIP BOARD; CREATING THE
53	53	PUBLIC-PRIVATE PARTNERSHIP PROJECT FUND; PROVIDING FOR AN
54	54	EXEMPTION TO THE PROCUREMENT CODE; AUTHORIZING GRANTS, LOANS
55	55	AND BONDS; PROVIDING POWERS AND DUTIES; PROVIDING A DELAYED
56	56	REPEAL; REQUIRING REPORTS.
57	57	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
58	58	SECTION 1. [NEW MATERIAL] SHORT TITLE.--Sections 1
59	59	through 13 of this act may be cited as the "Public-Private
60	60	Partnership Act".
61	61	SECTION 2. [NEW MATERIAL] DEFINITIONS.--As used in the
62	62	Public-Private Partnership Act:
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90	90	A. "authority" means the New Mexico finance
91	91	authority;
92	92	B. "board" means the public-private partnership
93	93	board;
94	94	C. "broadband telecommunications network
95	95	facilities" means the electronics, equipment, transmission
96	96	facilities, fiber-optic cables and any other item directly
97	97	related to a system capable of transmission of internet
98	98	protocol or other formatted data at current federal
99	99	communications commission minimum speed standard, all of which
100	100	will be owned and used by a provider of internet access
101	101	services;
102	102	D. "private partner" means an individual, a foreign
103	103	or domestic corporation, a general partnership, a limited
104	104	liability company, a limited partnership, a joint venture, a
105	105	business trust, a public benefit corporation, a nonprofit
106	106	entity or other private business entity or combination thereof;
107	107	E. "public partner" means the state and its
108	108	branches, agencies, departments, boards, instrumentalities or
109	109	institutions and all political subdivisions of the state and
110	110	their agencies, instrumentalities and institutions, including a
111	111	department, an agency, an institution of higher education, a
112	112	board or a commission;
113	113	F. "public-private partnership" means an
114	114	arrangement between one or more public partners and one or more
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143	143	private partners for the development of a public project
144	144	pursuant to the Public-Private Partnership Act;
145	145	G. "public-private partnership agreement" means a
146	146	contract between one or more public partners and one or more
147	147	private partners in connection with the development of a public
148	148	project;
149	149	H. "public project" means:
150	150	(1) the construction or improvement of a
151	151	public transportation facility or public transportation
152	152	infrastructure other than a toll road; or
153	153	(2) public construction or improvement of
154	154	broadband telecommunications network facilities;
155	155	I. "revenue" means all revenue, income, earnings,
156	156	user fees, lease payments or other service payments that
157	157	support the development of a public project, including money
158	158	received as a grant or otherwise from the federal government, a
159	159	public partner or any agency or instrumentality of the federal
160	160	government; and
161	161	J. "user fees" means rates, fees or other charges
162	162	imposed by the public partner or the private partner for use of
163	163	all or part of a public project.
164	164	SECTION 3. [NEW MATERIAL] PUBLIC-PRIVATE PARTNERSHIP
165	165	AGREEMENTS--APPROVAL REQUIREMENTS--RESTRICTIONS.--
166	166	A. In order to provide economic and administrative
167	167	efficiencies in connection with the development of public
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196	196	projects, a public partner is authorized to enter into public-
197	197	private partnership agreements.
198	198	B. Prior to entering into negotiations regarding
199	199	the use of a public-private partnership agreement as a method
200	200	of implementing a proposed public project, the public partner
201	201	shall publish a notice of its interest in considering such an
202	202	agreement. The notice shall be published for three successive
203	203	weeks in a newspaper of general circulation published in the
204	204	county where the public partner is situated, and in the county
205	205	where the proposed public project will occur if different, and
206	206	if the public partner has a website, the notice shall be posted
207	207	on that website. The notice shall include a description of the
208	208	scope of the proposed public project.
209	209	C. Prior to entering into a public-private
210	210	partnership agreement, a public partner shall:
211	211	(1) undertake a cost-benefit analysis of a
212	212	public-private partnership project in comparison with the
213	213	traditional public partner-managed project;
214	214	(2) determine whether the application of the
215	215	Procurement Code or other procurement rules applicable to the
216	216	public partner would delay or increase the cost of the proposed
217	217	public project;
218	218	(3) conduct a public hearing relating to the
219	219	proposed public-private partnership held in accordance with the
220	220	Open Meetings Act;
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249	249	(4) demonstrate that the proposed public
250	250	project serves an important public purpose and fulfills an
251	251	important public need; and
252	252	(5) demonstrate that the proposed public
253	253	project will comply with applicable state and federal law.
254	254	D. A public-private partnership agreement shall:
255	255	(1) define the roles and responsibilities of
256	256	the public partners and the private partners;
257	257	(2) provide clawback or recapture provisions
258	258	that protect the public investment in the event of a default on
259	259	the agreement;
260	260	(3) provide a finance plan detailing the
261	261	financial contributions and obligations of the public and
262	262	private partners;
263	263	(4) require a private partner to provide, or
264	264	cause to be provided, performance and payment bonds as required
265	265	pursuant to Section 13-4-18 NMSA 1978;
266	266	(5) require a private partner to provide
267	267	guarantees, letters of credit or other acceptable forms of
268	268	security, the amount of which may be less than one hundred
269	269	percent of the value of the contract involved based on the
270	270	determination of the public partner, or for public-private
271	271	partnership agreements requiring board approval, based on the
272	272	determination by the board;
273	273	(6) specify how revenue will be collected,
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302	302	accounted for and audited;
303	303	(7) specify how debts incurred on behalf of
304	304	the public partner or private partner will be repaid;
305	305	(8) address how the public partners and the
306	306	private partners will share management and the risks of the
307	307	public project;
308	308	(9) provide that, in the event of an uncured
309	309	default, the public partner may:
310	310	(a) elect to take over the public
311	311	project, including the succession of all right, title and
312	312	interest in the public project, subject to any liens on revenue
313	313	previously granted by the private partner; and
314	314	(b) terminate the public-private
315	315	partnership and exercise any other rights and remedies that may
316	316	be available;
317	317	(10) specify the term of the public-private
318	318	partnership agreement, which shall not exceed thirty years;
319	319	(11) limit a private partner from seeking
320	320	injunctive or other equitable relief to in any way restrict a
321	321	public partner from developing, constructing or maintaining a
322	322	public project, except that the public-private partnership
323	323	agreement may provide for reasonable compensation to the
324	324	private partner for the adverse effect resulting from
325	325	development, construction, operation and maintenance of another
326	326	public project of the public partner;
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355	355	(12) provide for the protection of proprietary
356	356	information of the private partner, except as that information
357	357	is needed for operations and maintenance by a public entity or
358	358	for public health and safety;
359	359	(13) provide that operations and maintenance
360	360	of a public project, except a public project that is broadband
361	361	infrastructure, to be performed by the public partner;
362	362	(14) provide provisions for termination of the
363	363	public-private partnership agreement, including the cessation
364	364	of the powers and duties of the private partner; and
365	365	(15) provide that the public project shall
366	366	revert to the public partner and be dedicated for public use.
367	367	E. A public-private partnership agreement for a
368	368	public project for which the cost is in excess of ten million
369	369	dollars ($10,000,000) shall not become effective until it is
370	370	approved by the board pursuant to Subsection D of Section 5 of
371	371	the Public-Private Partnership Act.
372	372	F. Within thirty days of execution by a public
373	373	partner and a private partner, a copy of the fully executed
374	374	public-private partnership agreement for a public project for
375	375	which the cost is less than or equal to ten million dollars
376	376	($10,000,000) shall be delivered to the board for reporting
377	377	pursuant to Subsection C of Section 5 of the Public-Private
378	378	Partnership Act.
379	379	SECTION 4. [NEW MATERIAL] PUBLIC-PRIVATE PARTNERSHIP
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408	408	BOARD--CREATED--MEMBERSHIP.--
409	409	A. The "public-private partnership board" is
410	410	created. The authority shall provide necessary administrative
411	411	services to the board.
412	412	B. The eleven members of the board shall be:
413	413	(1) the secretary of economic development or
414	414	the secretary's designee;
415	415	(2) the secretary of finance and
416	416	administration or the secretary's designee;
417	417	(3) the secretary of general services or the
418	418	secretary's designee;
419	419	(4) the secretary of transportation or the
420	420	secretary's designee;
421	421	(5) the chief executive officer of the
422	422	authority or the chief executive officer's designee;
423	423	(6) the director of the office of broadband
424	424	access and expansion or the director's designee; and
425	425	(7) five members of the public appointed by
426	426	the New Mexico legislative council who shall have experience in
427	427	architecture, broadband development, engineering, public
428	428	projects, project finance, public finance or bond and finance
429	429	law.
430	430	C. The members of the public appointed initially
431	431	shall draw lots for staggered terms in such a way that two
432	432	members shall serve for six years, two members shall serve for
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461	461	four years and one member shall serve for two years.
462	462	Thereafter, the public members shall serve for six-year terms.
463	463	D. The members shall select a chair who shall be a
464	464	public member and who shall serve a term of two years.
465	465	E. Members who are not public employees are
466	466	entitled to per diem and mileage as provided in the Per Diem
467	467	and Mileage Act but shall receive no other compensation,
468	468	perquisite or allowance.
469	469	SECTION 5. [NEW MATERIAL] BOARD--POWERS.--The board shall
470	470	have the following powers:
471	471	A. meet quarterly and at such other times as deemed
472	472	necessary by the chair;
473	473	B. develop forms of applications for approval of
474	474	public-private partnerships;
475	475	C. receive for reporting purposes executed public-
476	476	private partnership agreements for public projects for which
477	477	the cost is less than or equal to ten million dollars
478	478	($10,000,000);
479	479	D. review and consider for approval proposed
480	480	public-private partnership agreements for a public project for
481	481	which the cost is in excess of ten million dollars
482	482	($10,000,000);
483	483	E. certify the need for the issuance of revenue
484	484	bonds and refunding bonds by the authority;
485	485	F. determine the use of a public-private
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514	514	partnership agreement and ensure that the proposed funding
515	515	mechanism is a prudent expenditure of public funds;
516	516	G. promulgate rules establishing the application
517	517	process and criteria for the approval of public-private
518	518	partnership agreements in accordance with the provisions of the
519	519	State Rules Act;
520	520	H. make recommendations for approval to the
521	521	authority of public projects seeking grants or loans from the
522	522	public-private partnership project fund; and
523	523	I. take all other action necessary to implement the
524	524	Public-Private Partnership Act, including entering into joint
525	525	powers agreements with any other public sector partner or
526	526	Indian nation, tribe or pueblo and retaining legal counsel and
527	527	experts when appropriate.
528	528	SECTION 6. [NEW MATERIAL] NEW MEXICO FINANCE AUTHORITY--
529	529	DUTIES.--The authority shall:
530	530	A. provide staff support to the board;
531	531	B. administer the public-private partnership
532	532	project fund;
533	533	C. develop forms of grant and loan applications for
534	534	public projects seeking funds from the public-private
535	535	partnership project fund;
536	536	D. make loans and grants from the public-private
537	537	partnership project fund for public projects that have been
538	538	recommended for approval by the board pursuant to Subsection H
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567	567	of Section 5 of the Public-Private Partnership Act;
568	568	E. promulgate rules relating to the issuance of
569	569	bonds for public projects;
570	570	F. upon certification by the board, issue revenue
571	571	bonds and refunding bonds in accordance with the provisions of
572	572	the Public-Private Partnership Act;
573	573	G. fix, revise from time to time, charge and
574	574	collect fees and other charges in connection with making loans
575	575	and grants from the public-private partnership project fund;
576	576	H. be compensated from the public-private
577	577	partnership project fund for administrative and reimbursable
578	578	costs in connection with the authority's support of the board
579	579	and administration of the public-private partnership project
580	580	fund; and
581	581	I. take all other action necessary to implement the
582	582	Public-Private Partnership Act, including entering into joint
583	583	powers agreements with other agencies.
584	584	SECTION 7. [NEW MATERIAL] PUBLIC-PRIVATE PARTNERSHIP
585	585	PROJECT FUND CREATED--STUDY GRANTS--INFRASTRUCTURE LOANS.--
586	586	A. The "public-private partnership project fund" is
587	587	created within the authority. The fund consists of
588	588	appropriations, payments of principal and interest on loans
589	589	made from the fund, income from investment of the fund and any
590	590	other money distributed or otherwise allocated to the fund.
591	591	Balances in the fund at the end of any fiscal year shall not
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620	620	revert to the general fund. The fund may consist of such
621	621	subaccounts as the authority deems necessary to carry out the
622	622	purposes of the fund.
623	623	B. Money in the public-private partnership project
624	624	fund may be used to make grants of up to seventy-five thousand
625	625	dollars ($75,000) to a public partner for the purposes of
626	626	studying the costs and benefits of entering into a public-
627	627	private partnership for a proposed public project. A private
628	628	partner shall provide funds matching the public partner's
629	629	monetary obligation for the cost of the study, as required by
630	630	the authority.
631	631	C. Money in the public-private partnership project
632	632	fund may be used to provide loans for financing a public
633	633	project through a public-private partnership agreement;
634	634	provided that:
635	635	(1) the private partner shall provide funds
636	636	matching the public partner's monetary obligation for the
637	637	public-private partnership agreement, as provided by rule; and
638	638	(2) the public partner certifies to the board
639	639	that the public partner has taken all action necessary to
640	640	approve the public-private partnership agreement and that the
641	641	public-private partnership agreement contains all terms and
642	642	conditions required by Subsection D of Section 3 of the Public-
643	643	Private Partnership Act.
644	644	D. Money in the public-private partnership project
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673	673	fund may be used pursuant to Subsections B and C of this
674	674	section only for:
675	675	(1) grants or loans to a public partner; and
676	676	(2) a public project for which the cost is in
677	677	excess of ten million dollars ($10,000,000).
678	678	E. Money in the public-private partnership project
679	679	fund may be used for grants or loans to an Indian nation, tribe
680	680	or pueblo that has entered into a public-private partnership
681	681	with a private partner for the development of a public project
682	682	only if:
683	683	(1) the cost of the public project is in
684	684	excess of ten million dollars ($10,000,000);
685	685	(2) the agreement between the Indian nation,
686	686	tribe or pueblo and the private partner is approved by the
687	687	board; and
688	688	(3) the grant or loan application is
689	689	recommended for approval by the board and approved by the
690	690	authority.
691	691	F. Money in the public-private partnership project
692	692	fund may be used for administrative and reimbursable costs
693	693	incurred by the board and by the authority.
694	694	SECTION 8. [NEW MATERIAL] APPLICABILITY OF CERTAIN OTHER
695	695	LAWS.--The construction of a public project pursuant to a
696	696	public-private partnership agreement is a public work for the
697	697	purposes of the Public Works Minimum Wage Act, the
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718	718	18
719	719	19
720	720	20
721	721	21
722	722	22
723	723	23
724	724	24
725	725	25
726	726	Subcontractors Fair Practices Act and the Public Works
727	727	Apprentice and Training Act.
728	728	SECTION 9. [NEW MATERIAL] REVENUE BONDING AUTHORITY.--
729	729	A. Upon certification of the board, the authority
730	730	may issue revenue bonds, the pledged revenues for which shall
731	731	be fees, charges, lease payments, installment sale payments or
732	732	other revenue sources of a public project for any one or more
733	733	of the purposes authorized by the Public-Private Partnership
734	734	Act.
735	735	B. The authority may pledge irrevocably any or all
736	736	of the revenue received by the authority to the payment of the
737	737	interest on and principal of revenue bonds for any of the
738	738	purposes authorized in the Public-Private Partnership Act.
739	739	C. In addition to the pledge of revenues to the
740	740	payment of revenue bonds, the authority may grant a mortgage on
741	741	a public project that has been solely financed by revenue bonds
742	742	to the bondholders or a trustee for the benefit of the holders
743	743	of revenue bonds.
744	744	D. Revenue in excess of the annual principal and
745	745	interest due on revenue bonds secured by a pledged revenue may
746	746	be accumulated in a debt service reserve account. The
747	747	authority may appoint a commercial bank trust department to act
748	748	as paying agent or trustee of the revenue and to administer the
749	749	payment of principal of and interest on the revenue bonds.
750	750	E. Except as otherwise provided in the Public-
751	751	.223223.2
752	752	- 14 - underscored material = new
753	753	[bracketed material] = delete
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777	777	24
778	778	25
779	779	Private Partnership Act, revenue bonds:
780	780	(1) may have interest, principal value or any
781	781	part thereof payable at intervals or at maturity as may be
782	782	determined by the authority;
783	783	(2) may be subject to prior redemption at the
784	784	authority's option at a time and upon terms and conditions,
785	785	with or without the payment of a premium, as determined by the
786	786	authority;
787	787	(3) may mature at any time not exceeding
788	788	thirty years after the date of issuance;
789	789	(4) may be serial in form and maturity, may
790	790	consist of one bond payable at one time or in installments or
791	791	may be in another form determined by the authority;
792	792	(5) shall be sold for cash at, above or below
793	793	par and at a price that results in a net effective interest
794	794	rate that does not exceed the maximum permitted by the Public
795	795	Securities Act and the Public Securities Short-Term Interest
796	796	Rate Act; and
797	797	(6) may be sold at public or negotiated sale.
798	798	F. At a regular or special meeting, the authority
799	799	may, upon receipt of a certification from the board, adopt a
800	800	resolution that:
801	801	(1) declares the necessity for issuing revenue
802	802	bonds;
803	803	(2) authorizes the issuance of revenue bonds
804	804	.223223.2
805	805	- 15 - underscored material = new
806	806	[bracketed material] = delete
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808	808	2
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830	830	24
831	831	25
832	832	by an affirmative vote of a majority of all of the members of
833	833	the authority; and
834	834	(3) designates the sources of revenues to be
835	835	pledged to the repayment of the revenue bonds.
836	836	SECTION 10. [NEW MATERIAL] REFUNDING BOND AUTHORITY.--
837	837	A. Upon certification of the board, the authority
838	838	may issue refunding bonds for the purpose of refinancing,
839	839	paying and discharging all or any part of outstanding bonds for
840	840	the:
841	841	(1) acceleration, deceleration or other
842	842	modification of the payment of the outstanding bonds, including
843	843	any capitalization of any interest thereon in arrears or about
844	844	to become due for any period not exceeding two years from the
845	845	date of the refunding bonds;
846	846	(2) reduction of interest costs or effecting
847	847	other economies; or
848	848	(3) modification or elimination of restrictive
849	849	contractual limitations pertaining to the issuance of
850	850	additional bonds or concerning the outstanding bonds or public
851	851	project relating to the outstanding bonds.
852	852	B. The authority may pledge irrevocably for the
853	853	payment of interest, principal and premium, if any, on
854	854	refunding bonds the appropriate pledged revenues, which may be
855	855	pledged to an original issue of bonds.
856	856	C. In addition to the pledge of revenue to the
857	857	.223223.2
858	858	- 16 - underscored material = new
859	859	[bracketed material] = delete
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861	861	2
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885	885	payment of refunding bonds, the authority may grant a mortgage
886	886	on a public project that has been solely financed by revenue
887	887	bonds to the bondholders or a trustee for the benefit of the
888	888	holders of the bonds.
889	889	D. Refunding bonds may be issued separately or in
890	890	combination in one series or more.
891	891	E. Refunding bonds shall be authorized by
892	892	resolution. Bonds that are refunded shall be paid at maturity
893	893	or on any permitted prior redemption date in the amounts, at
894	894	the time and places and, if called prior to maturity, in
895	895	accordance with any applicable notice provisions, all as
896	896	provided in the proceedings authorizing the issuance of the
897	897	refunded bonds or otherwise appertaining thereto, except for
898	898	any such bond that is voluntarily surrendered for exchange or
899	899	payment by the holder or owner.
900	900	F. The principal amount of the refunding bonds may
901	901	exceed the principal amount of the refunded bonds and may also
902	902	be less than or the same as the principal amount of the bonds
903	903	being refunded if provision is duly and sufficiently made for
904	904	the payment of the refunded bonds.
905	905	G. The proceeds of refunding bonds, including
906	906	accrued interest and premiums appertaining to the sale of
907	907	refunding bonds, shall be immediately applied to the retirement
908	908	of the bonds being refunded or placed in escrow in a commercial
909	909	bank or trust company that possesses and exercises trust powers
910	910	.223223.2
911	911	- 17 - underscored material = new
912	912	[bracketed material] = delete
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914	914	2
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935	935	23
936	936	24
937	937	25
938	938	and that is a member of the federal deposit insurance
939	939	corporation.
940	940	H. Refunding bonds may bear additional terms and
941	941	provisions as determined by the authority subject to the
942	942	limitations in this section relating to original bond issues.
943	943	Refunding bonds are not subject to the provisions of any other
944	944	statute.
945	945	I. Refunding bonds:
946	946	(1) may have interest, principal value or any
947	947	part thereof payable at intervals or at maturity, as determined
948	948	by the authority;
949	949	(2) may be subject to prior redemption at the
950	950	authority's option at a time or times and upon terms and
951	951	conditions with or without payment of premium or premiums, as
952	952	determined by the authority;
953	953	(3) may be serial in form and maturity or may
954	954	consist of a single bond payable in one or more installments or
955	955	may be in another form, as determined by the authority; and
956	956	(4) shall be exchanged for the bonds and any
957	957	matured unpaid interest being refunded at not less than par or
958	958	sold at public or negotiated sale at, above or below par and at
959	959	a price that results in a net effective interest rate that does
960	960	not exceed the maximum permitted by the Public Securities Act.
961	961	J. At a regular or special meeting, the authority
962	962	may adopt a resolution by majority vote to authorize the
963	963	.223223.2
964	964	- 18 - underscored material = new
965	965	[bracketed material] = delete
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986	986	21
987	987	22
988	988	23
989	989	24
990	990	25
991	991	issuance of the refunding bonds.
992	992	SECTION 11. [NEW MATERIAL] BONDS NOT OBLIGATION OF
993	993	STATE.--All bonds or other obligations issued pursuant to the
994	994	Public-Private Partnership Act are payable solely from the
995	995	revenue of the authority that may be pledged to the payment of
996	996	such obligations, and the bonds or other obligations shall not
997	997	create an obligation, debt or liability of the state or any
998	998	other of its political subdivisions. No breach of any pledge,
999	999	obligation or agreement of the authority shall impose a
1000	1000	pecuniary liability or a charge upon the general credit or
1001	1001	taxing power of the state or any other of its political
1002	1002	subdivisions.
1003	1003	SECTION 12. [NEW MATERIAL] REPORT.--By December 1, 2023,
1004	1004	and by December 1 of each year thereafter, the board shall
1005	1005	provide a report to the governor and the New Mexico finance
1006	1006	authority oversight committee regarding:
1007	1007	A. the grant and loan applications approved by the
1008	1008	board;
1009	1009	B. the public-private partnership agreements
1010	1010	approved by or reported to the board;
1011	1011	C. the status of the public-private partnership
1012	1012	project fund;
1013	1013	D. any certifications for the issuance of revenue
1014	1014	or refunding bonds made by the board to the authority; and
1015	1015	E. any recommended changes to the Public-Private
1016	1016	.223223.2
1017	1017	- 19 - underscored material = new
1018	1018	[bracketed material] = delete
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1020	1020	2
1021	1021	3
1022	1022	4
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1038	1038	20
1039	1039	21
1040	1040	22
1041	1041	23
1042	1042	24
1043	1043	25
1044	1044	Partnership Act.
1045	1045	SECTION 13. [NEW MATERIAL] CUMULATIVE AUTHORITY.--The
1046	1046	Public-Private Partnership Act shall be deemed to provide an
1047	1047	additional and alternative method for the doing of things
1048	1048	authorized by that act and shall be regarded as supplemental
1049	1049	and additional to powers conferred by other laws and shall not
1050	1050	be regarded as in derogation of any powers now existing;
1051	1051	provided that the issuance of bonds pursuant to the provisions
1052	1052	of the Public-Private Partnership Act need not comply with the
1053	1053	requirements of any other law applicable to the issuance of
1054	1054	bonds, except the Public Securities Act, the Public Securities
1055	1055	Short-Term Interest Rate Act and the Public Securities
1056	1056	Limitation of Action Act, which acts shall apply.
1057	1057	SECTION 14. Section 13-1-98 NMSA 1978 (being Laws 1984,
1058	1058	Chapter 65, Section 71, as amended by Laws 2019, Chapter 48,
1059	1059	Section 13 and by Laws 2019, Chapter 63, Section 1) is amended
1060	1060	to read:
1061	1061	"13-1-98. EXEMPTIONS FROM THE PROCUREMENT CODE.--The
1062	1062	provisions of the Procurement Code shall not apply to:
1063	1063	A. procurement of items of tangible personal
1064	1064	property or services by a state agency or a local public body
1065	1065	from a state agency, a local public body or external
1066	1066	procurement unit except as otherwise provided in Sections
1067	1067	13-1-135 through 13-1-137 NMSA 1978;
1068	1068	B. procurement of tangible personal property or
1069	1069	.223223.2
1070	1070	- 20 - underscored material = new
1071	1071	[bracketed material] = delete
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1073	1073	2
1074	1074	3
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1076	1076	5
1077	1077	6
1078	1078	7
1079	1079	8
1080	1080	9
1081	1081	10
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1092	1092	21
1093	1093	22
1094	1094	23
1095	1095	24
1096	1096	25
1097	1097	services for the governor's mansion and grounds;
1098	1098	C. printing and duplicating contracts involving
1099	1099	materials that are required to be filed in connection with
1100	1100	proceedings before administrative agencies or state or federal
1101	1101	courts;
1102	1102	D. purchases of publicly provided or publicly
1103	1103	regulated gas, electricity, water, sewer and refuse collection
1104	1104	services;
1105	1105	E. purchases of books, periodicals and training
1106	1106	materials in printed or electronic format from the publishers
1107	1107	or copyright holders thereof and purchases of print, digital or
1108	1108	electronic format library materials by public, school and state
1109	1109	libraries for access by the public;
1110	1110	F. travel or shipping by common carrier or by
1111	1111	private conveyance or to meals and lodging;
1112	1112	G. purchase of livestock at auction rings or to the
1113	1113	procurement of animals to be used for research and
1114	1114	experimentation or exhibit;
1115	1115	H. contracts with businesses for public school
1116	1116	transportation services;
1117	1117	I. procurement of tangible personal property or
1118	1118	services, as defined by Sections 13-1-87 and 13-1-93 NMSA 1978,
1119	1119	by the corrections industries division of the corrections
1120	1120	department pursuant to rules adopted by the corrections
1121	1121	industries commission, which shall be reviewed by the
1122	1122	.223223.2
1123	1123	- 21 - underscored material = new
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1125	1125	1
1126	1126	2
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1148	1148	24
1149	1149	25
1150	1150	purchasing division of the general services department prior to
1151	1151	adoption;
1152	1152	J. purchases not exceeding ten thousand dollars
1153	1153	($10,000) consisting of magazine subscriptions, web-based or
1154	1154	electronic subscriptions, conference registration fees and
1155	1155	other similar purchases where prepayments are required;
1156	1156	K. municipalities having adopted home rule charters
1157	1157	and having enacted their own purchasing ordinances;
1158	1158	L. the issuance, sale and delivery of public
1159	1159	securities pursuant to the applicable authorizing statute, with
1160	1160	the exception of bond attorneys and general financial
1161	1161	consultants;
1162	1162	M. contracts entered into by a local public body
1163	1163	with a private independent contractor for the operation, or
1164	1164	provision and operation, of a jail pursuant to Sections 33-3-26
1165	1165	and 33-3-27 NMSA 1978;
1166	1166	N. contracts for maintenance of grounds and
1167	1167	facilities at highway rest stops and other employment
1168	1168	opportunities, excluding those intended for the direct care and
1169	1169	support of persons with handicaps, entered into by state
1170	1170	agencies with private, nonprofit, independent contractors who
1171	1171	provide services to persons with handicaps;
1172	1172	O. contracts and expenditures for services or items
1173	1173	of tangible personal property to be paid or compensated by
1174	1174	money or other property transferred to New Mexico law
1175	1175	.223223.2
1176	1176	- 22 - underscored material = new
1177	1177	[bracketed material] = delete
1178	1178	1
1179	1179	2
1180	1180	3
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1182	1182	5
1183	1183	6
1184	1184	7
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1199	1199	22
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1201	1201	24
1202	1202	25
1203	1203	enforcement agencies by the United States department of justice
1204	1204	drug enforcement administration;
1205	1205	P. contracts for retirement and other benefits
1206	1206	pursuant to Sections 22-11-47 through 22-11-52 NMSA 1978;
1207	1207	Q. contracts with professional entertainers;
1208	1208	R. contracts and expenditures for legal
1209	1209	subscription and research services and litigation expenses in
1210	1210	connection with proceedings before administrative agencies or
1211	1211	state or federal courts, including experts, mediators, court
1212	1212	reporters, process servers and witness fees, but not including
1213	1213	attorney contracts;
1214	1214	S. contracts for service relating to the design,
1215	1215	engineering, financing, construction and acquisition of public
1216	1216	improvements undertaken in improvement districts pursuant to
1217	1217	Subsection L of Section 3-33-14.1 NMSA 1978 and in county
1218	1218	improvement districts pursuant to Subsection L of Section
1219	1219	4-55A-12.1 NMSA 1978;
1220	1220	T. works of art for museums or for display in
1221	1221	public buildings or places;
1222	1222	U. contracts entered into by a local public body
1223	1223	with a person, firm, organization, corporation or association
1224	1224	or a state educational institution named in Article 12, Section
1225	1225	11 of the constitution of New Mexico for the operation and
1226	1226	maintenance of a hospital pursuant to Chapter 3, Article 44
1227	1227	NMSA 1978, lease or operation of a county hospital pursuant to
1228	1228	.223223.2
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1254	1254	24
1255	1255	25
1256	1256	the Hospital Funding Act or operation and maintenance of a
1257	1257	hospital pursuant to the Special Hospital District Act;
1258	1258	V. purchases of advertising in all media, including
1259	1259	radio, television, print and electronic;
1260	1260	W. purchases of promotional goods intended for
1261	1261	resale by the tourism department;
1262	1262	X. procurement of printing, publishing and
1263	1263	distribution services for materials produced and intended for
1264	1264	resale by the cultural affairs department;
1265	1265	Y. procurement by or through the public education
1266	1266	department from the federal department of education relating to
1267	1267	parent training and information centers designed to increase
1268	1268	parent participation, projects and initiatives designed to
1269	1269	improve outcomes for students with disabilities and other
1270	1270	projects and initiatives relating to the administration of
1271	1271	improvement strategy programs pursuant to the federal
1272	1272	Individuals with Disabilities Education Act; provided that the
1273	1273	exemption applies only to procurement of services not to exceed
1274	1274	two hundred thousand dollars ($200,000);
1275	1275	Z. procurement of services from community
1276	1276	rehabilitation programs or qualified individuals pursuant to
1277	1277	the State Use Act;
1278	1278	AA. purchases of products or services for eligible
1279	1279	persons with disabilities pursuant to the federal
1280	1280	Rehabilitation Act of 1973;
1281	1281	.223223.2
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1304	1304	21
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1306	1306	23
1307	1307	24
1308	1308	25
1309	1309	BB. procurement, by either the department of health
1310	1310	or Grant county or both, of tangible personal property,
1311	1311	services or construction that are exempt from the Procurement
1312	1312	Code pursuant to Section 9-7-6.5 NMSA 1978;
1313	1313	CC. contracts for investment advisory services,
1314	1314	investment management services or other investment-related
1315	1315	services entered into by the educational retirement board, the
1316	1316	state investment officer or the retirement board created
1317	1317	pursuant to the Public Employees Retirement Act;
1318	1318	DD. the purchase for resale by the state fair
1319	1319	commission of feed and other items necessary for the upkeep of
1320	1320	livestock;
1321	1321	EE. contracts entered into by the crime victims
1322	1322	reparation commission to distribute federal grants to assist
1323	1323	victims of crime, including grants from the federal Victims of
1324	1324	Crime Act of 1984 and the federal Violence Against Women Act of
1325	1325	1994;
1326	1326	FF. procurement by or through the early childhood
1327	1327	education and care department of early pre-kindergarten and
1328	1328	pre-kindergarten services purchased pursuant to the Pre-
1329	1329	Kindergarten Act;
1330	1330	GG. procurement of services of commissioned
1331	1331	advertising sales representatives for New Mexico magazine;
1332	1332	HH. agreements and contracts entered into pursuant
1333	1333	to the Public-Private Partnership Act ; and
1334	1334	.223223.2
1335	1335	- 25 - underscored material = new
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1362	1362	[HH.] II. procurements exempt from the Procurement
1363	1363	Code as otherwise provided by law."
1364	1364	SECTION 15. Section 6-21-6 NMSA 1978 (being Laws 1992,
1365	1365	Chapter 61, Section 6, as amended) is amended to read:
1366	1366	"6-21-6. PUBLIC PROJECT REVOLVING FUND--PURPOSE--
1367	1367	ADMINISTRATION.--
1368	1368	A. The "public project revolving fund" is created
1369	1369	within the authority. The fund shall be administered by the
1370	1370	authority as a separate account, but may consist of such
1371	1371	subaccounts as the authority deems necessary to carry out the
1372	1372	purposes of the fund. The authority may establish procedures
1373	1373	and adopt rules as required to administer the fund in
1374	1374	accordance with the New Mexico Finance Authority Act.
1375	1375	B. Except as otherwise provided in the New Mexico
1376	1376	Finance Authority Act, money from payments of principal of and
1377	1377	interest on loans and payments of principal of and interest on
1378	1378	securities held by the authority for public projects authorized
1379	1379	specifically by law shall be deposited in the public project
1380	1380	revolving fund. The fund shall also consist of any other money
1381	1381	appropriated, distributed or otherwise allocated to the fund
1382	1382	for the purpose of financing public projects authorized
1383	1383	specifically by law.
1384	1384	C. Money appropriated to pay administrative costs,
1385	1385	money available for administrative costs from other sources and
1386	1386	money from payments of interest on loans or securities held by
1387	1387	.223223.2
1388	1388	- 26 - underscored material = new
1389	1389	[bracketed material] = delete
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1415	1415	the authority, including payments of interest on loans and
1416	1416	securities held by the authority for public projects authorized
1417	1417	specifically by law, that represents payments for
1418	1418	administrative costs shall not be deposited in the public
1419	1419	project revolving fund and shall be deposited in a separate
1420	1420	account of the authority and may be used by the authority to
1421	1421	meet administrative costs of the authority.
1422	1422	D. Except as otherwise provided in the New Mexico
1423	1423	Finance Authority Act, money in the public project revolving
1424	1424	fund is appropriated to the authority to pay the reasonably
1425	1425	necessary costs of originating and servicing loans, grants or
1426	1426	securities funded by the fund and to make loans or grants and
1427	1427	to purchase or sell securities to assist qualified entities in
1428	1428	financing public projects in accordance with the New Mexico
1429	1429	Finance Authority Act and pursuant to specific authorization by
1430	1430	law for each project.
1431	1431	E. Money in the public project revolving fund not
1432	1432	needed for immediate disbursement, including money held in
1433	1433	reserve, may be deposited with the state treasurer for
1434	1434	short-term investment pursuant to Section 6-10-10.1 NMSA 1978
1435	1435	or may be invested in direct and general obligations of or
1436	1436	obligations fully and unconditionally guaranteed by the United
1437	1437	States, obligations issued by agencies of the United States,
1438	1438	obligations of this state or any political subdivision of the
1439	1439	state, interest-bearing time deposits, commercial paper issued
1440	1440	.223223.2
1441	1441	- 27 - underscored material = new
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1468	1468	by corporations organized and operating in the United States
1469	1469	and rated "prime" quality by a national rating service, other
1470	1470	investments permitted by Section 6-10-10 NMSA 1978 or as
1471	1471	otherwise provided by the trust indenture or bond resolution,
1472	1472	if money is pledged for or secures payment of bonds issued by
1473	1473	the authority.
1474	1474	F. The authority shall establish fiscal controls
1475	1475	and accounting procedures that are sufficient to assure proper
1476	1476	accounting for public project revolving fund payments,
1477	1477	disbursements and balances.
1478	1478	G. Money on deposit in the public project revolving
1479	1479	fund may be used to make interim loans for a term not exceeding
1480	1480	two years to qualified entities for the purpose of providing
1481	1481	interim financing for any project approved or funded by the
1482	1482	legislature.
1483	1483	H. Money on deposit in the public project revolving
1484	1484	fund may be used to acquire securities or to make loans to
1485	1485	qualified entities in connection with the small loan program.
1486	1486	As used in this subsection, "small loan program" means the
1487	1487	program of the authority designed to provide financing for
1488	1488	public projects in amounts not to exceed one million dollars
1489	1489	($1,000,000) per project. A public project financed pursuant
1490	1490	to the small loan program shall not require specific
1491	1491	authorization by law.
1492	1492	I. Money on deposit in the public project
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1521	1521	revolving fund may be designated as a reserve for any bonds
1522	1522	issued by the authority, including bonds payable from sources
1523	1523	other than the public project revolving fund, and the authority
1524	1524	may covenant in any bond resolution or trust indenture to
1525	1525	maintain and replenish the reserve from money deposited in the
1526	1526	public project revolving fund after issuance of bonds by the
1527	1527	authority.
1528	1528	J. Money on deposit in the public project revolving
1529	1529	fund may be used to purchase bonds issued by the authority or
1530	1530	bonds issued by the authority pursuant to the Public-Private
1531	1531	Partnership Act, which are payable from any designated source
1532	1532	of revenues or collateral. Purchasing and holding the bonds in
1533	1533	the public project revolving fund shall not, as a matter of
1534	1534	law, result in cancellation or merger of the bonds
1535	1535	notwithstanding the fact that the authority as the issuer of
1536	1536	the bonds is obligated to make the required debt service
1537	1537	payments and the public project revolving fund held by the
1538	1538	authority is entitled to receive the required debt service
1539	1539	payments.
1540	1540	K. Money on deposit in the public project revolving
1541	1541	fund may be used to capitalize other financing programs of the
1542	1542	authority authorized by law, either directly or from proceeds
1543	1543	of bonds issued by the authority and secured by money in the
1544	1544	public project revolving fund."
1545	1545	SECTION 16. DELAYED REPEAL.--Sections 1 through 13 of
1546	1546	.223223.2
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1574	1574	this act are repealed effective July 1, 2033.
1575	1575	SECTION 17. EFFECTIVE DATE.--The effective date of the
1576	1576	provisions of this act is July 1, 2023.
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1578	1578	.223223.2