HCEDC/HB 20/a
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AN ACT
RELATING TO ECONOMIC DEVELOPMENT; CREATING THE TECHNOLOGY AND
INNOVATION DIVISION WITHIN THE ECONOMIC DEVELOPMENT
DEPARTMENT; PROVIDING POWERS AND DUTIES; CREATING THE
TECHNOLOGY AND INNOVATION NETWORK ADVISORY BOARD; ENACTING
THE RESEARCH, DEVELOPMENT AND DEPLOYMENT FUND ACT; CREATING
THE RESEARCH, DEVELOPMENT AND DEPLOYMENT FUND; PROVIDING FOR
MATCH FUNDING FOR CERTAIN PROJECTS THAT PROMOTE CERTAIN
GOALS; ESTABLISHING AN APPLICATION PROCESS, ELIGIBILITY
REQUIREMENTS AND AWARD TERMS; REQUIRING REPORTING; CREATING
THE TECHNOLOGY INNOVATION PRIZE AND PROVIDING REQUIREMENTS
FOR ELIGIBILITY AND RECEIVING PRIZE MONEY; TRANSFERRING
OFFICE FUNCTIONS, PERSONNEL, MONEY AND PROPERTY TO THE
TECHNOLOGY AND INNOVATION DIVISION; REPEALING SECTIONS
9-15-16 AND 9-15-17 NMSA 1978 (BEING LAWS 1991, CHAPTER 21,
SECTIONS 21 AND 22) TO REMOVE OBSOLETE PROVISIONS; MAKING AN
APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 9-15-4 NMSA 1978 (being Laws 1983,
Chapter 297, Section 4, as amended) is amended to read:
"9-15-4. DEPARTMENT ESTABLISHED.--The "economic
development department" is created in the executive branch.
The department shall be a cabinet department and shall
consist of, but not be limited to, seven divisions as HCEDC/HB 20/a
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follows:
A. the administrative services division;
B. the economic development division;
C. the New Mexico film division;
D. the technology and innovation division;
E. the trade and Mexican affairs division;
F. the New Mexico outdoor recreation division; and
G. the creative industries division."
SECTION 2. A new section of the Economic Development
Department Act is enacted to read:
"TECHNOLOGY AND INNOVATION DIVISION--DUTIES.--
A. The "technology and innovation division" is
created in the department. In addition to any organizational
units, programs or funds that the secretary assigns to the
technology and innovation division, the division consists of
the office of strategy, science and technology.
B. The technology and innovation division, in
addition to other duties that may be assigned to the division
by the secretary or by law, is authorized to:
(1) engage and coordinate with the
technology and innovation network advisory board and the
broader business community;
(2) support and coordinate with the target
sector subcommittees of the technology and innovation network
advisory board; HCEDC/HB 20/a
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(3) represent New Mexico at national
conferences and trade shows related to technology and
innovation, focusing on the target sectors;
(4) identify and support applications for
federal grant opportunities in the target sectors;
(5) support and develop ecosystems in New
Mexico in the target sectors;
(6) provide program staff for each target
sector to coordinate and serve as liaisons to target sector
ecosystems in New Mexico;
(7) market and promote New Mexico's target
sectors within and without New Mexico;
(8) administer the Research, Development and
Deployment Fund Act, including:
(a) establishing, maintaining and
administering the application process;
(b) reviewing and evaluating grant
proposals;
(c) monitoring the progress and
outcomes of projects awarded funding;
(d) ensuring compliance with fund
matching requirements;
(e) tracking and reporting on the
performance of the research, development and deployment fund;
and HCEDC/HB 20/a
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(f) coordinating and managing the
awards process in consultation with the technology and
innovation network advisory board;
(9) develop and maintain a statewide
technology and innovation strategic plan that:
(a) aligns with state economic
development goals;
(b) identifies key innovation assets
and opportunities;
(c) establishes metrics for measuring
progress and success; and
(d) outlines strategies for the
development of target sector ecosystems;
(10) collect, analyze and report to the
department on innovation metrics, including:
(a) economic impacts of division
programs;
(b) state innovation performance
indicators;
(c) ecosystem development metrics; and
(d) returns on investment of state
funding;
(11) support technology transfer and
commercialization through:
(a) facilitating connections between HCEDC/HB 20/a
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researchers and industry;
(b) providing technical assistance for
technology commercialization;
(c) supporting small business
innovation and incubation programs; and
(d) coordinating with federal and state
technology transfer programs;
(12) coordinate innovation initiatives
across state agencies, including:
(a) identifying opportunities for
collaboration;
(b) aligning resources and programs;
(c) reducing duplication of efforts;
and
(d) maximizing impact of state
investments; and
(13) maintain databases and resources,
including:
(a) state innovation assets and
capabilities;
(b) funding opportunities and
resources;
(c) technical assistance providers; and
(d) ecosystem support organizations.
C. As used in this section, "target sectors" means HCEDC/HB 20/a
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aerospace and space, biosciences, clean energy and water,
advanced computing, which includes artificial intelligence,
quantum computing and cybersecurity, and other sectors that
are strategic and important for statewide economic
development."
SECTION 3. A new section of the Economic Development
Department Act is enacted to read:
"TECHNOLOGY AND INNOVATION NETWORK ADVISORY BOARD--
CREATED--MEMBERS--DUTIES.--
A. The "technology and innovation network advisory
board" is created in the technology and innovation division
of the department. The advisory board consists of an
executive committee and any subcommittees created by the
executive committee. The advisory board is composed of the
following:
(1) the secretary or the secretary's
designee, to serve as chair;
(2) eleven members who may collectively be
referred to as "core members", including the president of the
New Mexico independent community colleges or that president's
designee, the president of the New Mexico chamber of commerce
or that president's designee and one representative from each
of the following:
(a) Sandia national laboratories;
(b) Los Alamos national laboratory; HCEDC/HB 20/a
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(c) the United States air force
research laboratory;
(d) New Mexico state university;
(e) the university of New Mexico;
(f) the university of New Mexico health
sciences center;
(g) the New Mexico institute of mining
and technology;
(h) Navajo technical university; and
(i) central New Mexico community
college;
(3) a representative from each center of
excellence established pursuant to Section 21-1-27.11 NMSA
1978 that is not otherwise represented on the board; and
(4) the following public members to be
appointed by the secretary:
(a) one representative from a skilled
trades association in New Mexico;
(b) one representative from a regional
economic development organization;
(c) one representative from an Indian
nation, tribe or pueblo;
(d) one representative from the private
equity industry with at least five years of relevant
experience; HCEDC/HB 20/a
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(e) one representative from the venture
capital industry with at least five years of relevant
experience;
(f) one representative from the private
sector who owns a business and who, on account of the
person's previous vocation, employment or affiliation, cannot
be classified as a representative of employers or employees;
(g) one representative from a New
Mexico business incubator or accelerator with at least five
years of relevant experience; and
(h) eight representatives who are
industry alliance members or have at least five years of
relevant experience working in entrepreneurial support. Two
representatives shall be from each of the following four
target sectors: aerospace and space, biosciences, clean
energy and water and advanced computing.
B. The "technology and innovation network advisory
board" is created to unite various sector perspectives to
assist in the guidance and ongoing strategic planning of the
division. The advisory board shall:
(1) provide to the technology and innovation
division recommendations for strategic engagement, industry
perspective, sectors that the division should make target
sectors and feedback on the division's programs and
initiatives; HCEDC/HB 20/a
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(2) assist with ensuring active engagement
between the state and the private sector;
(3) assist the technology and innovation
division with administering the Research, Development and
Deployment Fund Act, including providing recommendations to
that division for eligibility requirements, funding
priorities and the awarding of project funding; and
(4) publish annual performance reports by
December of each year that identify near-term constraints and
challenges, identify opportunities and long-term trends and
provide sector survey metrics and policy recommendations.
C. The technology and innovation network advisory
board shall meet, beginning in 2025, not less than quarterly
at the call of the chair or at the request of two-fifths of
its membership to carry out its duties. A majority of the
members constitutes a quorum for the transaction of business,
and the support of a majority of the quorum is required for
adoption of any action.
D. Appointments to the technology and innovation
network advisory board shall be made by and the terms of
service of appointed members shall start on September 1,
2025. The terms shall be four years, and the initial terms
shall be staggered so that the terms of one-half of the
members shall expire at the end of the initial two years and
the terms of the remaining members shall expire at the end of HCEDC/HB 20/a
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the initial four years. The initial terms shall be selected
by random drawing.
E. Each member of the advisory board shall,
pursuant to a policy adopted by and on forms required by the
executive committee of the board, disclose conflicts of
interest annually.
F. In the event of a vacancy on the technology and
innovation network advisory board, a new member shall be
appointed by the original appointing authority for the
remainder of the unexpired term. A member may be removed by
the secretary or by a two-thirds' vote of the executive
committee members.
G. Public members of the technology and innovation
network advisory board are entitled to receive per diem and
mileage as provided in the Per Diem and Mileage Act and shall
receive no other compensation, perquisite or allowance.
H. The staff for the technology and innovation
network advisory board shall be provided by the technology
and innovation division of the department, and the staff
shall provide:
(1) administrative and technical support for
the advisory board;
(2) assistance with the coordination and
documentation of board, executive committee and subcommittee
meetings; HCEDC/HB 20/a
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(3) assistance with reporting requirements
and metric tracking; and
(4) support with the administration of
grants."
SECTION 4. A new section of the Economic Development
Department Act is enacted to read:
"TECHNOLOGY AND INNOVATION NETWORK ADVISORY BOARD--
EXECUTIVE COMMITTEE--SUBCOMMITTEES--COMPOSITION AND DUTIES.--
A. There is created within the technology and
innovation network advisory board an executive committee.
B. The executive committee is composed of the
following members of the technology and innovation network
advisory board:
(1) the chair;
(2) two core members;
(3) two of the public members appointed by
the secretary; and
(4) one representative from each of the
following four target sectors: aerospace and space,
biosciences, clean energy and water and advanced computing.
C. The executive committee shall oversee the
technology and innovation network advisory board's
operations, set meeting agendas, review and approve
subcommittee recommendations and make time-sensitive
decisions between full board meetings. HCEDC/HB 20/a
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D. A subcommittee shall be composed of the two
representatives from the corresponding target sector, one
representative from a laboratory, one representative from a
university, one representative from private industry and the
secretary or the secretary's designee to serve as chair. The
subcommittee members shall elect a vice chair. A member of
the public may apply to the executive committee to be a
nonvoting member of a subcommittee, and the executive
committee shall adopt policies and procedures necessary for
such an application and evaluation process.
E. A subcommittee created shall develop sector-
specific metrics and goals, review and assess relevant grant
proposals, monitor sector performance and trends, prepare
annual reports and identify cross-sector opportunities.
F. The executive committee, beginning September 1,
2025, and any subcommittees created shall meet not less than
quarterly at the call of the chair or at the request of
two-fifths of its membership to carry out its duties. A
majority of the members constitutes a quorum for the
transaction of business, and the support of a majority of the
quorum is required for adoption of any action."
SECTION 5. SHORT TITLE.--Sections 5 through 11 of this
act may be cited as the "Research, Development and Deployment
Fund Act".
SECTION 6. DEFINITIONS.--As used in the Research, HCEDC/HB 20/a
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Development and Deployment Fund Act:
A. "applicant" means a person or entity applying
for project funding;
B. "applicant match" means money for a project
provided by an applicant or a partnering entity that is not a
political subdivision of the state;
C. "board" means the technology and innovation
network advisory board established pursuant to Section 3 of
this 2025 act;
D. "business" means any corporation, partnership,
limited liability company, joint venture or other similar
legal entity registered in New Mexico;
E. "department" means the economic development
department;
F. "division" means the technology and innovation
division of the department;
G. "documented need" means language in
solicitations for non-state funding or other communications
from authorized officials within a non-state funding agency
or corporation that clearly states that regional or
institutional support, commitments or matching funds will be
used in the evaluation of proposals for non-state funding;
H. "fund" means the research, development and
deployment fund;
I. "public entity" means a political subdivision HCEDC/HB 20/a
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of the state, a state agency or a national laboratory or
public post-secondary educational institution in New Mexico;
and
J. "target sector" means aerospace and space,
biosciences, clean energy and water, advanced computing,
which includes artificial intelligence, quantum computing and
cybersecurity, and other sectors that are strategic and
important for statewide economic development.
SECTION 7. RESEARCH, DEVELOPMENT AND DEPLOYMENT FUND.--
A. The "research, development and deployment fund"
is created as a nonreverting fund in the state treasury. The
fund consists of distributions, appropriations, gifts,
grants, donations and income from investment of the fund.
The department shall administer the fund. Money in the fund
is appropriated to the department for the purposes of
catalyzing innovation, economic growth and job creation by
providing early-stage capital and financial support to
emerging technologies, start-up businesses and research
initiatives that align with the state's economic development
plan through project awards pursuant to the Research,
Development and Deployment Fund Act.
B. Expenditures from the fund shall be by warrant
of the secretary of finance and administration pursuant to
vouchers signed by the secretary of economic development or
the secretary's authorized representative. HCEDC/HB 20/a
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SECTION 8. PROJECT FUNDING--DEPARTMENT DUTIES--
APPLICATIONS.--
A. The division shall administer the provisions of
the Research, Development and Deployment Fund Act to provide
project funding to applicants that meet all eligibility
requirements. The division shall:
(1) establish a streamlined application
process pursuant to the requirements of the Research,
Development and Deployment Fund Act, with:
(a) eligibility requirements and
funding priorities, which shall be established in
consultation with the board; and
(b) an option for the expedited review
and processing of applications for applicants who submit
additional justifying documentation of exigent circumstances,
as required by the department;
(2) establish clear application evaluation
criteria that are aligned with state economic development
goals;
(3) award project funding in consultation
with the board's recommendations;
(4) verify applicant match funding
requirements for a project when a match is applicable or
match funding is being requested;
(5) monitor ongoing compliance with a funded HCEDC/HB 20/a
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project's match requirements when a match is applicable or
match funding is being requested;
(6) establish procedures for addressing
undelivered applicant funding commitments;
(7) annually report with the department to
the legislature and governor on the administration,
performance and efficacy of the Research, Development and
Deployment Fund Act; and
(8) promulgate rules necessary to implement
and administer the provisions of the Research, Development
and Deployment Fund Act, in consultation with the board.
B. Applications may be submitted:
(1) up to three hundred sixty-five days
prior to anticipated federal or private sector grant
deadlines for new or recurring published opportunities;
(2) for pending proposals with multistage
reviews that have been submitted but have not had an award
finalized or, subject to department approval, within ninety
days after such an award is finalized;
(3) for project funding awards pending
successful non-state funding or private grant applications;
(4) for re-application by an applicant who
has previously been denied project funding; provided that the
applicant makes changes and improvements based on any
feedback received from the prior application; and HCEDC/HB 20/a
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(5) in response to grant award solicitations
by the division.
C. In administering the provisions of the
Research, Development and Deployment Fund Act, the division
shall not:
(1) impose limitations on the amount of
project funding that may be awarded to public post-secondary
educational institutions, except as provided in the Research,
Development and Deployment Fund Act; or
(2) restrict the awarding of project funding
to only research activities.
SECTION 9. ELIGIBILITY REQUIREMENTS.--
A. To be eligible for project funding:
(1) an applicant shall be a public entity or
a business registered in New Mexico;
(2) an applicant's project shall be
reasonably expected to do two or more of the following in New
Mexico:
(a) advance innovation in at least one
of the target sectors;
(b) foster collaboration between at
least two of the following: private industry, a national
laboratory, a federal agency or a public entity;
(c) leverage federal or private
investment; HCEDC/HB 20/a
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(d) create new economic opportunities;
(e) create new jobs and workforce
training opportunities; and
(f) advance the commercialization of a
technology in at least one of the target sectors;
(3) an applicant shall submit:
(a) a project budget that includes
proposed and anticipated funding from state and non-state
sources;
(b) one or more letters of support or
letters of commitment of resources to the project;
(c) if a public entity, at least one
partnership agreement entered into for the purposes of the
project from partners not under the control of the applicant;
(d) a time line detailing when and how
project funding will be expended;
(e) a time line for non-state funding
availability and applicant match funding availability, if
applicable; and
(f) a valuation methodology for in-kind
contributions, if applicable;
(4) if applicable due to a match
requirement, an applicant shall submit evidence satisfactory
to the division that the applicant has received applicant
match in an amount that is equal to or greater than the HCEDC/HB 20/a
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amount of project funding the applicant is requesting,
including certification by the applicant of such a fact;
(5) if an applicant is seeking project
funding in connection with or as part of a separate
application for grant money that requires cost sharing,
matching funds, institutional support or regional financial
commitments as a condition of eligibility for that grant
money, the applicant shall submit written evidence from the
entity providing that grant money that clearly states such
requirements will be used in the evaluation of applications
for that grant money. If no such written evidence exists of
the requirements for institutional support or regional
financial commitment, the applicant may submit alternative
proof of the requirements and the division shall establish
criteria and, on a case-by-case basis, evaluate whether the
proof is sufficient; and
(6) an applicant shall meet all other
eligibility requirements of the division, which the division
shall establish in consultation with the board.
B. In lieu of evidence of documented need for
project funding required pursuant to Subsection A of this
section, an applicant may include with the applicant's
application a justification for why project funding is
necessary for the project to be successful and effectively
promote state interests in one or more target sectors. HCEDC/HB 20/a
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C. When an applicant's project has a match
requirement, the division may reduce applicant match
requirements by up to fifty percent for projects:
(1) that primarily benefit communities that
are rural or part of Indian nations, tribes or pueblos;
(2) led by minority-serving public post-
secondary educational institutions as defined in federal law;
or
(3) that address critical state needs as
determined by the department in its statewide economic plan.
D. An in-kind contribution to a project may
qualify as a portion of an applicant's required match when
the:
(1) value of the in-kind contribution can be
independently verified;
(2) in-kind contribution is essential to the
project's success, as determined by the division;
(3) in-kind contribution would otherwise be
a legitimate project expense; and
(4) total in-kind contributions to a project
constitute no more than fifty percent of the applicant match.
SECTION 10. PROJECT FUNDING AWARDS--PROCESS--TERMS.--
A. Priority shall be given to projects that:
(1) create high-quality, high-wage jobs in
New Mexico; HCEDC/HB 20/a
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(2) when applicable, have higher percentages
of matching funds from non-public entities;
(3) demonstrate strong potential for
commercialization in a target sector;
(4) support the growth of New Mexico-based
companies;
(5) benefit communities that are rural or in
an Indian nation, tribe or pueblo; and
(6) provide opportunities for broad regional
participation.
B. Awards of project funding shall:
(1) allow for multiyear project periods
aligned with federal or private sector grant or other
non-state funding opportunity time lines;
(2) permit pre-award project spending by
applicants when necessary to meet non-state grant application
deadlines; provided that applicants shall use non-state
funding or other institutional funding for pre-award
spending; and
(3) provide that a certain amount of the
funding may be used for an applicant's administrative costs
to implement the project.
SECTION 11. REPORTING.--On or before December 1 of 2025
and of every year thereafter, the department shall provide a
report to the governor, the legislative finance committee and HCEDC/HB 20/a
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the appropriate interim committees that study economic
development regarding the administration, efficacy and
performance of the Research, Development and Deployment Fund
Act, including:
A. projects that have been awarded funding;
B. for each project, the dollar amounts awarded,
the amount of non-state matching funds the project received,
if applicable, and the amount of non-state funding leveraged;
C. updates on the progress, performance, outcomes
and impacts of each project that was awarded funding;
D. total jobs created and retained in New Mexico;
E. return on investment of state money spent
pursuant to the Research, Development and Deployment Fund
Act;
F. any additional investment that was attracted to
the state and state-owned businesses; and
G. other relevant performance metrics, including
those recommended by the board, to measure the success of the
Research, Development and Deployment Fund Act and the state's
investment of public money pursuant to that act.
SECTION 12. A new section of the Economic Development
Department Act is enacted to read:
"TECHNOLOGY INNOVATION PRIZE--ELIGIBILITY--
REQUIREMENTS--PARTICIPATION--ADMINISTRATION.--
A. The department shall establish and administer HCEDC/HB 20/a
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the "technology innovation prize program". The prize program
shall provide:
(1) no less than five million dollars
($5,000,000) for the top award recipient;
(2) no less than one million dollars
($1,000,000) each for the next two award recipients; and
(3) additional award amounts as recommended
and approved by the technology and innovation network
advisory board.
B. Technology innovation prizes shall only be
awarded to companies that provide technological innovation in
the following sectors:
(1) clean energy and water;
(2) aerospace and space;
(3) advanced computing, including quantum
computing, artificial intelligence and cybersecurity;
(4) biosciences; or
(5) other sectors that are recommended
through resolution of the technology and innovation network
advisory board.
C. To be eligible for a technology innovation
prize, an applicant shall:
(1) be a business registered in New Mexico;
(2) have a substantial presence in New
Mexico or commit to establishing such presence; and HCEDC/HB 20/a
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(3) in the case of an international
applicant, maintain a contractual partnership with a New
Mexico-based entity.
D. Before receiving technology innovation prize
money, a recipient shall enter into a contract with the
department that requires the recipient to:
(1) maintain operations and a substantial
presence in New Mexico for a minimum of three years after
receiving the award;
(2) create and maintain for at least three
years after receiving prize money a number of jobs in New
Mexico, as required by the department;
(3) participate in science, technology,
engineering and mathematics education initiatives within the
state; and
(4) repay to the department the prize money
at a fair current market interest rate if the recipient
accepts the prize money and fails to meet a requirement of
this section.
E. The department shall establish or coordinate
with existing programs to provide technology innovation prize
money recipients with:
(1) access to New Mexico's national
laboratories for consultation;
(2) mentorship opportunities with industry HCEDC/HB 20/a
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experts; and
(3) networking events with potential
investors and partners.
F. The department, with approval from the
technology and innovation network advisory board and for the
purposes of administering the technology innovation prize
program, shall create a steering committee, develop program
time lines, establish application rules and guidelines,
establish partnerships and determine resource allocation.
G. The department shall promulgate rules as
necessary to carry out the provisions of this section.
H. As used in this section, "business" means any
corporation, partnership, limited liability company, joint
venture or other similar legal entity."
SECTION 13. Section 9-15-18 NMSA 1978 (being Laws 1991,
Chapter 21, Section 23) is amended to read:
"9-15-18. PROPRIETARY INFORMATION.--
A. Any information obtained by the technology and
innovation division that is deemed by the director to be
proprietary technical or business information shall be held
in confidence. Proprietary technical or business information
shall not be deemed a public record under the Public Records
Act or be open to inspection under Section 14-2-1 NMSA 1978.
The technology and innovation division shall take such steps
as are necessary to safeguard the confidentiality of the HCEDC/HB 20/a
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information.
B. Notwithstanding Sections 10-15-1 through
10-15-4 NMSA 1978 or any other law requiring meetings of
public bodies to be open to the public, meetings of the
commission shall be closed when proprietary technical or
business information is discussed."
SECTION 14. Section 9-15-19 NMSA 1978 (being Laws 1991,
Chapter 21, Section 24) is repealed and a new Section 9-15-19
NMSA 1978 is enacted to read:
"9-15-19. TECHNOLOGY AND INNOVATION FUND CREATED.--The
"technology and innovation fund" is created as a nonreverting
fund in the state treasury to replace the technology
enterprise fund. The fund consists of distributions,
appropriations, gifts, grants, donations, money from
cooperative research and technology transfer agreements and
income from investment of the fund. The economic development
department shall administer the fund. Money in the fund is
subject to appropriation by the legislature for administering
the provisions of Section 2 of this 2025 act. Expenditures
from the fund shall be by warrant of the secretary of finance
and administration pursuant to vouchers signed by the
secretary of economic development or the secretary's
authorized representative."
SECTION 15. TEMPORARY PROVISION--TRANSFER.--
A. On the effective date of this act: HCEDC/HB 20/a
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(1) the office of strategy, science and
technology of the economic development department and the
office of entrepreneurship of the economic development
department, including the functions, personnel,
appropriations, money, records and other property of those
offices, shall be transferred to the technology and
innovation division of the economic development department;
and
(2) money in the technology enterprise fund
shall be transferred to the technology and innovation fund.
B. The secretary of economic development shall
assign other programs and funds management to the appropriate
division.
C. Contractual obligations of any of the
transferred units of the economic development department
shall continue to be obligations of the department.
SECTION 16. REPEAL.--Sections 9-15-16 and 9-15-17 NMSA
1978 (being Laws 1991, Chapter 21, Sections 21 and 22) are
repealed.
SECTION 17. EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2025.