NM
New Mexico Senate Bill SB158

New Mexico 2025 Regular Session

New Mexico Senate Bill SB158 Compare Versions

Only one version of the bill is available at this time.
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2828 SENATE BILL 158
2929 57
3030 TH LEGISLATURE
3131 -
3232
3333 STATE
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3535 OF
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3737 NEW
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3939 MEXICO
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4242 FIRST SESSION
4343 ,
4444
4545 2025
4646 INTRODUCED BY
4747 Benny Shendo, Jr.
4848 FOR THE LEGISLATIVE FINANCE COMMITTEE
4949 AN ACT
5050 RELATING TO ECONOMIC DEVELOPMENT INCENTIVES; REQUIRING THE
5151 ECONOMIC DEVELOPMENT DEPARTMENT TO COMPILE AND PRESENT AN
5252 ANNUAL REPORT ON PROJECTS FUNDED WITH PUBLIC SUPPORT PURSUANT
5353 TO THE LOCAL ECONOMIC DEVELOPMENT ACT; REQUIRING THE ECONOMIC
5454 DEVELOPMENT DEPARTMENT AND THE WORKFORCE SOLUTIONS DEPARTMENT
5555 TO PROVIDE INFORMATION TO THE STAFF OF THE LEGISLATIVE FINANCE
5656 COMMITTEE FOR PURPOSES OF EVALUATING ECONOMIC DEVELOPMENT
5757 INCENTIVES; REQUIRING THE INDUSTRIAL TRAINING BOARD TO REPORT
5858 CERTAIN DEVELOPMENT TRAINING DATA TO THE LEGISLATIVE FINANCE
5959 COMMITTEE.
6060 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
6161 SECTION 1. A new section of the Local Economic
6262 Development Act is enacted to read:
6363 "[NEW MATERIAL] ANNUAL REPORT.--
6464 .229235.3 underscored material = new
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9191 A. The department shall compile an annual report on
9292 economic development projects for which public support is
9393 provided. The department shall present the report to the
9494 legislative finance committee with an analysis of the
9595 effectiveness and cost of the Local Economic Development Act
9696 and whether it is fulfilling the purpose for which it was
9797 created. The report shall include:
9898 (1) the aggregate amount of public support
9999 provided for all projects;
100100 (2) for each project:
101101 (a) the name of the qualifying entity
102102 approved for support;
103103 (b) the amount of public support
104104 provided;
105105 (c) the amount of capital investment the
106106 qualifying entity committed to expend or allocate;
107107 (d) the number of jobs that the
108108 qualifying entity committed to create and the median wage of
109109 the jobs, including the specific number and average wage of new
110110 full-time economic base jobs;
111111 (e) the number of jobs created and the
112112 median wage of the jobs created, including the specific number
113113 and average wage of new full-time economic base jobs created;
114114 and
115115 (f) the actual economic impact of the
116116 .229235.3
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144144 project, including the return on investment of the public
145145 support and an explanation of the methodology used to determine
146146 the economic impact of the project; and
147147 (3) any other information necessary to
148148 evaluate the effectiveness and cost of the Local Economic
149149 Development Act.
150150 B. The department shall publish the report on its
151151 website; provided that the department shall not include any
152152 confidential, sensitive or proprietary information about a
153153 qualifying entity, including its financial information,
154154 management information or trade secrets."
155155 SECTION 2. Section 9-15-10 NMSA 1978 (being Laws 1983,
156156 Chapter 297, Section 10, as amended) is amended to read:
157157 "9-15-10. ORGANIZATIONAL UNITS OF DEPARTMENT--POWERS AND
158158 DUTIES SPECIFIED BY LAW--ACCESS TO INFORMATION.--
159159 A. Those organizational units of the department and
160160 the officers of those units specified by law shall have all of
161161 the powers and duties enumerated in the specific laws involved.
162162 However, the carrying out of those powers and duties shall be
163163 subject to the direction and supervision of the secretary, and
164164 [he] the secretary shall retain the final decision-making
165165 authority and responsibility for the administration of any such
166166 laws as provided in Subsection B of Section 9-15-6 NMSA 1978.
167167 The department shall have access to all records, data and
168168 information of other state departments, agencies and
169169 .229235.3
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197197 institutions, including its own organizational units, not
198198 specifically held confidential by law. Except as provided in
199199 Subsection B of this section , any information obtained by the
200200 department that is proprietary technical information or related
201201 to the possible relocation or expansion of a business shall be
202202 deemed confidential and withheld from inspection pursuant to
203203 the Inspection of Public Records Act.
204204 B. Upon written request by the director of the
205205 legislative finance committee, including by electronic means,
206206 the department shall provide to the staff of the legislative
207207 finance committee all information obtained by the department
208208 that is proprietary technical information or related to an
209209 actual relocation or expansion of a business; provided that
210210 providing such information shall not violate the terms of a
211211 previously executed agreement with the department. The staff
212212 of the legislative finance committee is prohibited from
213213 requesting or using this information for a purpose other than
214214 to evaluate tax expenditures and economic development
215215 incentives for effectiveness and efficiency or to make
216216 recommendations regarding the continuance of such expenditures
217217 and incentives.
218218 C. The department shall provide visible and clearly
219219 marked notification of confidential information revealed
220220 pursuant to Subsection B of this section. The staff of the
221221 legislative finance committee shall not reveal such
222222 .229235.3
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250250 confidential information unless the information is aggregated
251251 to at least three businesses. "
252252 SECTION 3. Section 9-26-14 NMSA 1978 (being Laws 2007,
253253 Chapter 200, Section 14) is amended to read:
254254 "9-26-14. DISCLOSURE OF INFORMATION.--
255255 A. To the extent permitted by federal law, upon the
256256 written request of a corporation organized pursuant to the
257257 Educational Assistance Act, the department shall furnish the
258258 last known address and the date of that address of every person
259259 certified to the department as being an absent obligor of an
260260 educational debt that is due and owed to the corporation or
261261 that the corporation has lawfully contracted to collect. The
262262 corporation and its officers and employees shall use such
263263 information only for the purpose of enforcing the educational
264264 debt obligation of such absent obligors and shall not disclose
265265 that information or use it for any other purpose.
266266 B. To the extent permitted by federal law, upon
267267 written request by the director of the legislative finance
268268 committee, including by electronic means, the department shall
269269 provide all information related to labor data obtained by the
270270 department to the staff of the legislative finance committee.
271271 The staff of the legislative finance committee is prohibited
272272 from requesting or using this information for a purpose other
273273 than to evaluate tax expenditures and economic development
274274 incentives for effectiveness and efficiency or to make
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303303 recommendations regarding the continuance of such expenditures
304304 and incentives.
305305 C. The department shall provide visible and clearly
306306 marked notification of confidential information revealed
307307 pursuant to Subsection B of this section. The staff of the
308308 legislative finance committee shall not reveal such
309309 confidential information unless the information is aggregated
310310 to at least three businesses. "
311311 SECTION 4. A new section of Chapter 21, Article 19 NMSA
312312 1978 is enacted to read:
313313 "[NEW MATERIAL] REPORT.--For each company or preemployment
314314 training program that receives development training pursuant to
315315 Section 21-19-7 NMSA 1978, the industrial training board shall
316316 report to the legislative finance committee:
317317 A. the number of persons trained;
318318 B. the average wage of each person trained;
319319 C. the city and county in which the training is
320320 provided; and
321321 D. the actual economic impact of the project,
322322 including the return on investment of the public support and an
323323 explanation of the methodology used to determine the economic
324324 impact of the project."
325325 SECTION 5. EFFECTIVE DATE.--The effective date of the
326326 provisions of this act is July 1, 2025.
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