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SENATE BILL 158
57
TH LEGISLATURE
-
STATE
OF
NEW
MEXICO
-
FIRST SESSION
,
2025
INTRODUCED BY
Benny Shendo, Jr.
FOR THE LEGISLATIVE FINANCE COMMITTEE
AN ACT
RELATING TO ECONOMIC DEVELOPMENT INCENTIVES; REQUIRING THE
ECONOMIC DEVELOPMENT DEPARTMENT TO COMPILE AND PRESENT AN
ANNUAL REPORT ON PROJECTS FUNDED WITH PUBLIC SUPPORT PURSUANT
TO THE LOCAL ECONOMIC DEVELOPMENT ACT; REQUIRING THE ECONOMIC
DEVELOPMENT DEPARTMENT AND THE WORKFORCE SOLUTIONS DEPARTMENT
TO PROVIDE INFORMATION TO THE STAFF OF THE LEGISLATIVE FINANCE
COMMITTEE FOR PURPOSES OF EVALUATING ECONOMIC DEVELOPMENT
INCENTIVES; REQUIRING THE INDUSTRIAL TRAINING BOARD TO REPORT
CERTAIN DEVELOPMENT TRAINING DATA TO THE LEGISLATIVE FINANCE
COMMITTEE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Local Economic
Development Act is enacted to read:
"[NEW MATERIAL] ANNUAL REPORT.--
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A. The department shall compile an annual report on
economic development projects for which public support is
provided. The department shall present the report to the
legislative finance committee with an analysis of the
effectiveness and cost of the Local Economic Development Act
and whether it is fulfilling the purpose for which it was
created. The report shall include:
(1) the aggregate amount of public support
provided for all projects;
(2) for each project:
(a) the name of the qualifying entity
approved for support;
(b) the amount of public support
provided;
(c) the amount of capital investment the
qualifying entity committed to expend or allocate;
(d) the number of jobs that the
qualifying entity committed to create and the median wage of
the jobs, including the specific number and average wage of new
full-time economic base jobs;
(e) the number of jobs created and the
median wage of the jobs created, including the specific number
and average wage of new full-time economic base jobs created;
and
(f) the actual economic impact of the
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project, including the return on investment of the public
support and an explanation of the methodology used to determine
the economic impact of the project; and
(3) any other information necessary to
evaluate the effectiveness and cost of the Local Economic
Development Act.
B. The department shall publish the report on its
website; provided that the department shall not include any
confidential, sensitive or proprietary information about a
qualifying entity, including its financial information,
management information or trade secrets."
SECTION 2. Section 9-15-10 NMSA 1978 (being Laws 1983,
Chapter 297, Section 10, as amended) is amended to read:
"9-15-10. ORGANIZATIONAL UNITS OF DEPARTMENT--POWERS AND
DUTIES SPECIFIED BY LAW--ACCESS TO INFORMATION.--
A. Those organizational units of the department and
the officers of those units specified by law shall have all of
the powers and duties enumerated in the specific laws involved.
However, the carrying out of those powers and duties shall be
subject to the direction and supervision of the secretary, and
[he] the secretary shall retain the final decision-making
authority and responsibility for the administration of any such
laws as provided in Subsection B of Section 9-15-6 NMSA 1978.
The department shall have access to all records, data and
information of other state departments, agencies and
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institutions, including its own organizational units, not
specifically held confidential by law. Except as provided in
Subsection B of this section , any information obtained by the
department that is proprietary technical information or related
to the possible relocation or expansion of a business shall be
deemed confidential and withheld from inspection pursuant to
the Inspection of Public Records Act.
B. Upon written request by the director of the
legislative finance committee, including by electronic means,
the department shall provide to the staff of the legislative
finance committee all information obtained by the department
that is proprietary technical information or related to an
actual relocation or expansion of a business; provided that
providing such information shall not violate the terms of a
previously executed agreement with the department. The staff
of the legislative finance committee is prohibited from
requesting or using this information for a purpose other than
to evaluate tax expenditures and economic development
incentives for effectiveness and efficiency or to make
recommendations regarding the continuance of such expenditures
and incentives.
C. The department shall provide visible and clearly
marked notification of confidential information revealed
pursuant to Subsection B of this section. The staff of the
legislative finance committee shall not reveal such
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confidential information unless the information is aggregated
to at least three businesses. "
SECTION 3. Section 9-26-14 NMSA 1978 (being Laws 2007,
Chapter 200, Section 14) is amended to read:
"9-26-14. DISCLOSURE OF INFORMATION.--
A. To the extent permitted by federal law, upon the
written request of a corporation organized pursuant to the
Educational Assistance Act, the department shall furnish the
last known address and the date of that address of every person
certified to the department as being an absent obligor of an
educational debt that is due and owed to the corporation or
that the corporation has lawfully contracted to collect. The
corporation and its officers and employees shall use such
information only for the purpose of enforcing the educational
debt obligation of such absent obligors and shall not disclose
that information or use it for any other purpose.
B. To the extent permitted by federal law, upon
written request by the director of the legislative finance
committee, including by electronic means, the department shall
provide all information related to labor data obtained by the
department to the staff of the legislative finance committee.
The staff of the legislative finance committee is prohibited
from requesting or using this information for a purpose other
than to evaluate tax expenditures and economic development
incentives for effectiveness and efficiency or to make
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recommendations regarding the continuance of such expenditures
and incentives.
C. The department shall provide visible and clearly
marked notification of confidential information revealed
pursuant to Subsection B of this section. The staff of the
legislative finance committee shall not reveal such
confidential information unless the information is aggregated
to at least three businesses. "
SECTION 4. A new section of Chapter 21, Article 19 NMSA
1978 is enacted to read:
"[NEW MATERIAL] REPORT.--For each company or preemployment
training program that receives development training pursuant to
Section 21-19-7 NMSA 1978, the industrial training board shall
report to the legislative finance committee:
A. the number of persons trained;
B. the average wage of each person trained;
C. the city and county in which the training is
provided; and
D. the actual economic impact of the project,
including the return on investment of the public support and an
explanation of the methodology used to determine the economic
impact of the project."
SECTION 5. EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2025.
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