New Mexico 2025 Regular Session

New Mexico House Bill HB469 Compare Versions

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

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28	28	HOUSE BILL 469
29	29	57TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 2025
30	30	INTRODUCED BY
31	31	Raymundo Lara
32	32	AN ACT
33	33	RELATING TO BORDER DEVELOPMENT; AMENDING THE BORDER DEVELOPMENT
34	34	ACT; CHANGING THE COMPOSITION OF THE BORDER AUTHORITY;
35	35	PROVIDING PROFESSIONAL QUALIFICATION REQUIREMENTS FOR THE
36	36	POSITION OF EXECUTIVE DIRECTOR; MAKING TECHNICAL AND CLARIFYING
37	37	CHANGES; AMENDING AND REPEALING SECTIONS OF THE NMSA 1978.
38	38	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
39	39	SECTION 1. Section 58-27-3 NMSA 1978 (being Laws 1991,
40	40	Chapter 131, Section 3, as amended) is amended to read:
41	41	"58-27-3. DEFINITIONS.--As used in the Border Development
42	42	Act:
43	43	A. "authority" means the border authority;
44	44	B. "bond" includes notes and obligations;
45	45	C. "bondholder" means the owner of a registered or
46	46	unregistered bond;
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74	74	[B.] D. "financial assistance" means grants and
75	75	loans provided for projects to a qualified entity on terms and
76	76	conditions approved by the authority;
77	77	[C.] E. "mortgage" means a mortgage or a mortgage
78	78	and deed of trust or the pledge and hypothecation of any assets
79	79	as collateral security;
80	80	[D.] F. "port of entry" means an international port
81	81	of entry in New Mexico at which customs services are provided
82	82	by the United States customs and border protection;
83	83	[E.] G. "project" means [any ] land, [or] a building
84	84	or [any] other [improvements ] improvement acquired as a part of
85	85	a port of entry, [or] associated with a port of entry or to aid
86	86	commerce in connection with a port of entry, including [all ]
87	87	real [and] or personal property [deemed ] acquired as necessary
88	88	in connection therewith, whether or not now in existence. A
89	89	project shall be suitable for use by, or for, one or more of
90	90	the following:
91	91	(1) a port of entry, a foreign trade zone, an
92	92	inspection station, an emergency response station or any other
93	93	facilities to be used by [any ] an agency or entity of the
94	94	United States government, [by ] another qualified entity or [by
95	95	any other] a foreign international state;
96	96	(2) an industry for the manufacturing,
97	97	processing or [assembling of any ] assembly of an agricultural,
98	98	mining or manufactured product;
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127	127	(3) a railroad switching yard, railroad
128	128	station, bus terminal, airport or other passenger, commuter or
129	129	mass transportation system or freight transportation system;
130	130	(4) a commercial business or other enterprise
131	131	engaged in storing, warehousing, distributing or selling
132	132	products of manufacturing, agriculture, mining or related
133	133	industries, not including facilities designed for the
134	134	distribution to the public of electricity or gas;
135	135	(5) an enterprise in which all or part of the
136	136	activities of the enterprise involve supplying services to the
137	137	general public or to governmental agencies or to a specific
138	138	industry or customer;
139	139	(6) any industrial, commercial, agricultural,
140	140	professional or other business enterprise seeking to occupy
141	141	office space;
142	142	(7) infrastructure development involving
143	143	acquiring, repairing, improving or maintaining storm sewers and
144	144	other drainage improvements, sanitary sewers, sewage treatment,
145	145	water utilities or solid waste disposal facilities, including
146	146	acquiring rights of way or water rights;
147	147	(8) infrastructure development involving
148	148	reconstructing, resurfacing, maintaining, repairing or
149	149	improving existing alleys, streets, roads or bridges or laying
150	150	off, opening, constructing or acquiring new alleys, streets,
151	151	roads or bridges, including acquiring rights of way;
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180	180	(9) any industry that involves any water
181	181	distribution or irrigation system, including pumps,
182	182	distribution lines, transmission lines, fences, dams and
183	183	similar facilities and equipment, including acquiring rights of
184	184	way; or
185	185	(10) fire protection services or equipment or
186	186	police protection services or equipment;
187	187	[F.] H. "property" means land, improvements to the
188	188	land, buildings and improvements to the buildings, machinery
189	189	and equipment of any kind necessary to the project, operating
190	190	capital and any other personal properties deemed necessary in
191	191	connection with the project; and
192	192	[G.] I. "qualified entity" means the state or one
193	193	of its agencies, instrumentalities, institutions or political
194	194	subdivisions or the United States or any corporation,
195	195	department, instrumentality or agency of the federal government
196	196	[H. "bond" means any bonds, notes or other
197	197	obligations; and
198	198	I. "bondholder" means a person who is the owner of
199	199	a bond, regardless of whether the bond is registered ]."
200	200	SECTION 2. Section 58-27-4 NMSA 1978 (being Laws 1991,
201	201	Chapter 131, Section 4, as amended) is amended to read:
202	202	"58-27-4. BORDER AUTHORITY CREATED--MEMBERSHIP.--
203	203	A. The "border authority" is created. The
204	204	authority is a state agency and is administratively attached to
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233	233	the economic development department.
234	234	B. [The authority consists of seven voting members,
235	235	six of whom shall be appointed by the governor. No more than
236	236	three of those appointed shall belong to the same political
237	237	party. The seventh member shall be the secretary of economic
238	238	development or the secretary's designee. The voting members
239	239	appointed by the governor shall be confirmed by the senate. ]
240	240	The lieutenant governor shall serve as a nonvoting ex-officio
241	241	member. [The chair may appoint a nonvoting advisory committee
242	242	to provide advice and recommendations on authority matters.
243	243	C. The six voting members of the authority
244	244	appointed by the governor shall be citizens of the state and
245	245	shall serve for terms of four years except for the initial
246	246	appointees who shall be appointed so that the terms are
247	247	staggered after initial appointment. Initial appointees shall
248	248	serve terms as follows: two members for two years, two members
249	249	for three years and two members for four years. ]
250	250	C. The authority consists of the following nine
251	251	members:
252	252	(1) the secretary of economic development or
253	253	the secretary's designee;
254	254	(2) the secretary of transportation or the
255	255	secretary's designee;
256	256	(3) three members appointed by the governor,
257	257	subject to the advice and consent of the senate, who:
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286	286	(a) are New Mexico residents;
287	287	(b) represent the private sector; and
288	288	(c) have professional experience in: 1)
289	289	accounting; 2) agriculture; 3) business logistics or freight
290	290	shipping; 4) business management; 5) economic or land
291	291	development; 6) economics; 7) engineering; 8) finance; 9)
292	292	international commerce; or 10) the practice of law;
293	293	(4) one member appointed by the governor,
294	294	subject to the advice and consent of the senate, who is a city
295	295	councilor or mayor of a municipality with a jurisdiction that
296	296	is within twenty miles of a port of entry;
297	297	(5) one member appointed by the governor,
298	298	subject to the advice and consent of the senate, who is a
299	299	member of a board of county commissioners of a county with a
300	300	jurisdiction that includes a port of entry;
301	301	(6) one member appointed by the speaker of the
302	302	house of representatives; and
303	303	(7) one member appointed by the president pro
304	304	tempore of the senate.
305	305	D. The members of the authority appointed by the
306	306	governor pursuant to Subsection B of this section shall serve
307	307	the following terms:
308	308	(1) one initial appointee, a one-year term;
309	309	(2) one initial appointee, a two-year term;
310	310	(3) one initial appointee, a three-year term;
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339	339	(4) one initial appointee, a four-year term;
340	340	and
341	341	(5) all other appointees, a five-year term.
342	342	E. The authority shall invite the following
343	343	officials to serve as advisory members of the authority:
344	344	(1) the two United States senators
345	345	representing New Mexico or those senators' designees;
346	346	(2) the United States representative
347	347	representing New Mexico's second congressional district or the
348	348	representative's designee;
349	349	(3) the governor of the state of Chihuahua,
350	350	Mexico, or the governor's designee;
351	351	(4) the governor of the state of Sonora,
352	352	Mexico, or the governor's designee;
353	353	(5) a person involved with business
354	354	development in Mexico; and
355	355	(6) additional members as deemed necessary and
356	356	approved by the authority. "
357	357	SECTION 3. Section 58-27-6 NMSA 1978 (being Laws 1991,
358	358	Chapter 131, Section 6, as amended) is amended to read:
359	359	"58-27-6. OFFICERS OF THE AUTHORITY.--The [secretary of
360	360	economic development shall serve as the chairman of the
361	361	authority. Authority members shall elect any other officers
362	362	from the membership that the authority determines appropriate ]
363	363	members of the authority shall elect a voting member to be its
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392	392	chair and a voting member to be its vice chair. The members of
393	393	the authority may establish other officer positions as the
394	394	members deem appropriate. All officer positions shall be for a
395	395	term of one year."
396	396	SECTION 4. Section 58-27-10 NMSA 1978 (being Laws 1991,
397	397	Chapter 131, Section 10, as amended) is amended to read:
398	398	"58-27-10. POWERS AND DUTIES OF AUTHORITY.--
399	399	A. The authority shall:
400	400	(1) advise the governor and the governor's
401	401	staff and the New Mexico finance authority oversight committee
402	402	on [methods, proposals ] programs and initiatives [involving the
403	403	New Mexico-Chihuahua] for development in the New Mexico-Mexico
404	404	border area that may [further ] stimulate the border economy and
405	405	provide additional employment opportunities for New Mexico
406	406	[citizens] residents and on the methods and proposals related
407	407	to those programs and initiatives ;
408	408	(2) subject to the provisions of the Border
409	409	Development Act, initiate, develop, acquire, own, construct and
410	410	maintain border development projects;
411	411	(3) create programs to expand economic
412	412	opportunities beyond the [New Mexico-Chihuahua ] New Mexico-
413	413	Mexico border area to other areas of the state;
414	414	(4) create avenues of communication between
415	415	New Mexico and [Chihuahua and the Republic of ] Mexico
416	416	concerning economic development, trade, [and ] commerce,
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445	445	transportation and industrial affairs;
446	446	(5) promote legislation that will further the
447	447	goals of the authority and development of the border [region ]
448	448	area;
449	449	(6) produce or cause to have produced
450	450	promotional literature [related to explanation and fulfillment
451	451	of] explaining the authority's goals and reporting on the
452	452	progress made toward those goals ;
453	453	(7) actively recruit industries and establish
454	454	programs that will result in the location and relocation of new
455	455	industries in the state;
456	456	(8) coordinate and expedite the involvement of
457	457	the [executive department's ] state agency border area
458	458	development efforts;
459	459	(9) perform or cause to be performed
460	460	environmental, transportation, communication, land use and
461	461	other technical studies necessary or advisable for projects or
462	462	programs or to secure port-of-entry approval by the United
463	463	States and the Mexican governments and other appropriate
464	464	governmental agencies; and
465	465	(10) administer the border project fund and
466	466	projects financed with expenditures from that fund pursuant to
467	467	Section 58-27-25.1 NMSA 1978.
468	468	B. The authority may:
469	469	(1) solicit and accept federal, state, local
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498	498	and private grants of funds, property or financial or other aid
499	499	in any form [for the purpose of carrying out ] to carry out the
500	500	provisions of the Border Development Act;
501	501	(2) adopt rules governing [the manner in which
502	502	its business is transacted and the manner in which the powers
503	503	of the authority are exercised and its duties performed ] its
504	504	transaction of business, the exercise of its powers or the
505	505	performance of its duties ;
506	506	(3) act as an applicant for and the operator
507	507	of port-of-entry facilities and, as the applicant, carry out
508	508	all related tasks and functions, including: [acquisition by
509	509	purchase or gift of any real property necessary for port-of-
510	510	entry facilities, acquisition by purchase, gift or construction
511	511	of any facilities or other real or personal property necessary
512	512	for a port of entry and filing all necessary documents and
513	513	follow-up of such filings with appropriate agencies ]
514	514	(a) acquiring by purchase or gift real
515	515	property necessary for port-of-entry facilities;
516	516	(b) acquiring by purchase, gift or
517	517	construction facilities or other real or personal property
518	518	necessary for a port of entry; and
519	519	(c) filing necessary documents and
520	520	following up on those filings with the appropriate agencies;
521	521	(4) as part of a port of entry, give or
522	522	transfer real property, facilities and improvements owned by
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551	551	the authority to the United States government;
552	552	(5) acquire by construction, purchase, gift or
553	553	lease projects [that shall be located within ] in the state;
554	554	(6) sell, lease or otherwise dispose of a
555	555	project upon terms and conditions acceptable to the authority
556	556	and in the best interests of the state;
557	557	(7) enter into agreements with the [federal ]
558	558	United States government for the operation, improvement and
559	559	expansion of federal border facilities;
560	560	(8) enter into joint ventures, partnerships or
561	561	other business relationships with qualified entities and
562	562	private persons for the joint funding and operation of
563	563	projects;
564	564	(9) enter into agreements with private persons
565	565	concerning the advance of money by private persons for public
566	566	purposes or the granting of real property by private persons
567	567	for public purposes;
568	568	[(9)] (10) issue revenue bonds and borrow
569	569	money [for the purpose of defraying ] to defray the cost of
570	570	acquiring a project by purchase or construction and to secure
571	571	the payment of [the] project bonds or [repayment of a ] the
572	572	repayment of a project loan;
573	573	[(10)] (11) expend funds or incur debt for the
574	574	improvement, maintenance, repair or addition to property owned
575	575	by the authority, the state or the United States government;
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604	604	and
605	605	[(11)] (12) refinance a project.
606	606	C. In exercising its authority, the authority shall
607	607	not incur debt as a general obligation of the state or pledge
608	608	the full faith and credit of the state to repay debt."
609	609	SECTION 5. Section 58-27-12 NMSA 1978 (being Laws 1991,
610	610	Chapter 131, Section 12, as amended) is amended to read:
611	611	"58-27-12. AUTHORITY STAFF--CONTRACTS.--
612	612	[A. The authority shall hire an executive director
613	613	who shall employ the necessary professional, technical and
614	614	clerical staff to enable the authority to function efficiently.
615	615	B. The executive director of the authority shall
616	616	direct the affairs and business of the authority, subject to
617	617	the policies, control and direction of the authority ]
618	618	A. The authority shall hire an executive director,
619	619	who shall have the following minimum qualifications:
620	620	(1) a doctorate in jurisprudence or a
621	621	baccalaureate degree in accounting, agronomy, business,
622	622	economics, engineering or finance; and
623	623	(2) four years of professional experience in
624	624	business management, economic or land development or freight
625	625	shipping or supply chain logistics, including at least two
626	626	years of experience in a managerial and policy-making position
627	627	at a business entity.
628	628	B. The executive director of the authority shall:
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657	657	(1) hire professional, technical and clerical
658	658	staff as necessary to enable the authority to function
659	659	efficiently; and
660	660	(2) direct the affairs and business of the
661	661	authority, subject to the policies, control and direction of
662	662	the authority.
663	663	C. The authority may contract with any other
664	664	competent private or public organization or individual to
665	665	assist in the fulfillment of its duties."
666	666	SECTION 6. Section 58-27-13 NMSA 1978 (being Laws 1991,
667	667	Chapter 131, Section 13) is amended to read:
668	668	"58-27-13. LOCATION OF AUTHORITY.--The authority shall be
669	669	located in the [New Mexico-Chihuahua ] New Mexico-Mexico border
670	670	area."
671	671	SECTION 7. Section 58-27-21 NMSA 1978 (being Laws 1991,
672	672	Chapter 131, Section 21) is amended to read:
673	673	"58-27-21. [BORDER] AUTHORITY REVENUE BONDS--REFUNDING
674	674	AUTHORIZATION.--
675	675	A. The authority may issue refunding revenue bonds
676	676	[for the purpose of refinancing, paying and discharging all or
677	677	any] to refinance, pay or discharge all or part of the
678	678	outstanding authority revenue bonds of [any ] one or more [or
679	679	all] outstanding issues to :
680	680	(1) [for the acceleration, deceleration or
681	681	other modification of ] accelerate, decelerate or otherwise
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710	710	modify the payment of such obligations, including [without
711	711	limitation] any capitalization of [any ] interest [thereon] on
712	712	those obligations in arrears or about to become due for [any
713	713	period not exceeding] a period of one year from the date of the
714	714	refunding bonds;
715	715	(2) [for the purpose of reducing ] reduce
716	716	interest costs or [effecting ] effect other economies; and
717	717	(3) [for the purpose of modifying or
718	718	eliminating] modify or eliminate restrictive contractual
719	719	limitations pertaining to the issuance of additional bonds,
720	720	otherwise concerning the outstanding bonds or to any facilities
721	721	relating [thereto; or
722	722	(4) for any combination of those purposes ] to
723	723	those bonds.
724	724	B. The authority may pledge irrevocably for the
725	725	payment of interest and principal on refunding bonds the
726	726	appropriate pledged revenues [which ] that may be pledged to an
727	727	original issue of bonds.
728	728	C. Bonds for refunding and bonds for any purpose
729	729	permitted by the Border Development Act may be issued
730	730	separately or issued in combination in one series or more."
731	731	SECTION 8. Section 58-27-25 NMSA 1978 (being Laws 1991,
732	732	Chapter 131, Section 25, as amended) is amended to read:
733	733	"58-27-25. FUND CREATED.--
734	734	A. The "border authority fund" is created in the
735	735	.230749.3
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763	763	state treasury. Separate accounts within the fund may be
764	764	created for [any project ] projects. Money in the fund is
765	765	appropriated to the authority for the purposes of carrying out
766	766	the provisions of the Border Development Act. Money in the
767	767	fund shall not revert at the end of a fiscal year.
768	768	B. Except as provided in Subsections E and F of
769	769	this section, money received by the authority shall be
770	770	deposited in the border authority fund, including [but not
771	771	limited to] all:
772	772	(1) [the] proceeds of bonds issued by the
773	773	authority or from any loan to the authority made pursuant to
774	774	the Border Development Act;
775	775	(2) interest earned [upon ] on money in the
776	776	fund;
777	777	(3) [any] property or securities acquired
778	778	through the use of money belonging to the fund and earnings
779	779	from those assets;
780	780	[(4) all earnings of such property or
781	781	securities;
782	782	(5)] (4) lease or rental payments received by
783	783	the authority from [any ] a project and distributed to the fund
784	784	pursuant to Subsection F of this section;
785	785	[(6) all] (5) other money received by the
786	786	authority from any public or private source except [that, if
787	787	the public or private source expresses an intent that the money
788	788	.230749.3
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816	816	be used] money designated by the source for projects pursuant
817	817	to Section 58-27-25.1 NMSA 1978, [then the money ] which shall
818	818	instead be deposited into the border project fund [and not the
819	819	border authority fund ]; and
820	820	[(7)] (6) tolls, fees, rents or other charges
821	821	imposed and collected by the authority and distributed to the
822	822	fund pursuant to Subsection F of this section.
823	823	C. Disbursements from the border authority fund
824	824	shall be made only upon warrant drawn by the secretary of
825	825	finance and administration pursuant to vouchers signed by the
826	826	executive director of the authority or the executive director's
827	827	designee pursuant to the Border Development Act; provided that
828	828	in the event the position of executive director is vacant,
829	829	vouchers may be signed by the chair of the authority.
830	830	D. Earnings on the balance in the border authority
831	831	fund shall be credited to the fund. In addition, in the event
832	832	that the proceeds from the issuance of bonds or from money
833	833	borrowed by the authority are deposited in the state treasury,
834	834	interest earned on that money during the period commencing with
835	835	the deposit in the state treasury until the actual transfer of
836	836	the money to the fund shall be credited to the fund.
837	837	E. All proceeds from issuing revenue bonds shall be
838	838	placed in trust with a chartered bank to be [dispersed ]
839	839	disbursed by the trustee, pursuant to the terms [set forth ] in
840	840	the bonding resolution adopted by the authority.
841	841	.230749.3
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869	869	F. Ten percent of the tolls, fees, rents, lease
870	870	payments and other charges that are imposed, collected and
871	871	received by the authority shall be deposited [into ] in the
872	872	border project fund and the remaining ninety percent shall be
873	873	deposited into the border authority fund; provided that the
874	874	money deposited [into ] in the border authority fund shall be
875	875	expended only as appropriated and in accordance with a budget
876	876	approved by the state budget division of the department of
877	877	finance and administration."
878	878	SECTION 9. Section 58-27-25.1 NMSA 1978 (being Laws
879	879	2011, Chapter 59, Section 4) is amended to read:
880	880	"58-27-25.1. BORDER PROJECT FUND--CREATED--PURPOSE--
881	881	EXPENDITURES.--
882	882	A. The "border project fund" is created in the
883	883	state treasury.
884	884	B. The border project fund shall consist of:
885	885	(1) payments of principal and interest on
886	886	loans for projects;
887	887	(2) [the] that portion of the tolls, fees,
888	888	rents, lease payments or other charges that are imposed,
889	889	collected and received by the authority and distributed to the
890	890	fund pursuant to Subsection F of Section 58-27-25 NMSA 1978;
891	891	(3) money from public or private sources [and ]
892	892	that is deposited into the fund pursuant to Paragraph [(6) ] (5)
893	893	of Subsection B of Section 58-27-25 NMSA 1978;
894	894	.230749.3
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922	922	(4) money appropriated by the legislature or
923	923	distributed or otherwise allocated to the fund;
924	924	(5) the proceeds of severance tax bonds
925	925	appropriated to the fund for projects; and
926	926	(6) income from investment of the fund, which
927	927	shall be credited to the border project fund.
928	928	C. Except for severance tax bond proceeds required
929	929	to revert to the severance tax bonding fund, balances in the
930	930	border project fund at the end of a fiscal year shall not
931	931	revert to any other fund.
932	932	D. The [border project fund may consist of
933	933	subaccounts as determined to be necessary by the ] authority may
934	934	establish one or more subaccounts of the border project fund as
935	935	it deems necessary.
936	936	E. The border project fund is appropriated to the
937	937	authority for the following purposes:
938	938	(1) providing financial assistance in the form
939	939	of grants or loans with terms and conditions approved by the
940	940	authority to qualified entities for projects;
941	941	(2) [costs incurred in the operation of a port
942	942	of entry or related project pursuant to a joint powers
943	943	agreement entered into with the federal government ] paying
944	944	costs incurred pursuant to agreements with private persons
945	945	concerning the advance of money by a private person for a
946	946	public purpose; or
947	947	.230749.3
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975	975	(3) paying costs incurred in the joint funding
976	976	or operation of a project as part of a joint venture
977	977	[partnership or other business relationship with a qualified
978	978	entity or private person ].
979	979	F. The authority may establish procedures and adopt
980	980	rules as required to:
981	981	(1) administer the border project fund;
982	982	(2) originate financial assistance in the form
983	983	of grants or loans with terms and conditions approved by the
984	984	authority for projects selected by the authority; and
985	985	(3) govern the process through which qualified
986	986	entities may apply for financial assistance from the border
987	987	project fund."
988	988	SECTION 10. Section 58-27-26 NMSA 1978 (being Laws 1995,
989	989	Chapter 192, Section 21) is amended to read:
990	990	"58-27-26. NEW MEXICO FINANCE AUTHORITY OVERSIGHT
991	991	COMMITTEE--REPORTS--OVERSIGHT POWERS AND DUTIES.--
992	992	A. On or before November 30, 2026 and on or before
993	993	November 30 of each subsequent year, the authority shall
994	994	provide a report concerning the status of its projects to the
995	995	legislative finance committee.
996	996	B. The New Mexico finance authority oversight
997	997	committee shall serve as the oversight committee to the border
998	998	authority. The New Mexico finance authority oversight
999	999	committee shall:
1000	1000	.230749.3
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1028	1028	[A.] (1) monitor and oversee the operation of
1029	1029	the border authority;
1030	1030	[B.] (2) meet on a regular basis to receive
1031	1031	and review reports from the border authority on implementation
1032	1032	of the provisions of the Border Development Act and to review
1033	1033	and approve regulations proposed for adoption pursuant to that
1034	1034	act;
1035	1035	[C.] (3) monitor and provide assistance and
1036	1036	advice on the project financing program of the border
1037	1037	authority;
1038	1038	[D.] (4) oversee and monitor state and local
1039	1039	government capital planning and financing and take testimony
1040	1040	from state and local officials on border and port of entry
1041	1041	capital needs;
1042	1042	[E.] (5) provide advice and assistance to the
1043	1043	border authority and cooperate with the executive branch of
1044	1044	state government and local governments on planning, setting
1045	1045	priorities for and financing of border and port of entry
1046	1046	capital projects;
1047	1047	[F.] (6) undertake an ongoing examination of
1048	1048	the statutes, constitutional provisions, regulations and court
1049	1049	decisions governing border and port of entry capital financing
1050	1050	in New Mexico; and
1051	1051	[G.] (7) report its findings and
1052	1052	recommendations, including recommended legislation or necessary
1053	1053	.230749.3
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1081	1081	changes, to the governor and to each session of the
1082	1082	legislature. The report and proposed legislation shall be made
1083	1083	available on or before December 15 each year."
1084	1084	SECTION 11. TEMPORARY PROVISION--RESTRUCTURING OF BORDER
1085	1085	AUTHORITY.--On July 1, 2026 the terms of the voting members of
1086	1086	the border authority as of June 30, 2026 shall end, and voting
1087	1087	members appointed pursuant to Section 2 of this act shall be
1088	1088	installed as voting members of the authority.
1089	1089	SECTION 12. REPEAL.--Section 58-27-7 NMSA 1978 (being
1090	1090	Laws 1991, Chapter 131, Section 7) is repealed.
1091	1091	SECTION 13. EFFECTIVE DATE.--The effective date of the
1092	1092	provisions of this act is July 1, 2025.
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1094	1094	.230749.3