STBTC/SB 169
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AN ACT
RELATING TO ECONOMIC DEVELOPMENT; ENACTING THE STRATEGIC
ECONOMIC DEVELOPMENT SITE READINESS ACT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. SHORT TITLE.--This act may be cited as the
"Strategic Economic Development Site Readiness Act".
SECTION 2. DEFINITIONS.--As used in the Strategic
Economic Development Site Readiness Act:
A. "department" means the economic development
department;
B. "private partner" means an individual, a
foreign or domestic corporation, a general partnership, a
limited liability company, a limited partnership, a joint
venture, a business trust, a public benefit corporation, a
nonprofit entity or other private business entity or a
combination thereof;
C. "public partner" means the state and the
state's branches, agencies, departments, boards,
instrumentalities or institutions and all political
subdivisions of the state and their agencies,
instrumentalities and institutions, including a department,
an institution of higher education, a board or a commission,
and includes Indian nations, tribes and pueblos; and
D. "secretary" means the secretary of economic STBTC/SB 169
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development.
SECTION 3. SITE CHARACTERIZATION STUDIES.--
A. The department may enter into contracts with
public partners and private partners for site
characterization studies of proposed economic development
sites to determine the suitability of such sites for
certification as a strategic economic development site.
B. The secretary shall accept for consideration
proposals for site characterization studies of proposed
economic development sites and shall decide if a proposed
economic development site will be the subject of a site
characterization study pursuant to Subsection A of this
section.
C. A site characterization study shall assess the
suitability of a proposed economic development site for
development by a public partner or private partner and may
consider the following characteristics:
(1) the availability of public
infrastructure, including transportation access, water and
wastewater;
(2) the availability of public utilities,
including electricity, natural gas and broadband access;
(3) environmental limitations;
(4) size, configuration, topography, soils
and drainage; STBTC/SB 169
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(5) workforce availability;
(6) housing availability;
(7) governmental land use restrictions;
(8) site ownership;
(9) neighboring land uses; and
(10) any other site characteristics that may
affect the degree to which the site is ready for immediate
economic development.
SECTION 4. STRATEGIC ECONOMIC DEVELOPMENT SITE ADVISORY
COMMITTEE--CREATED--MEMBERSHIP.--
A. The "strategic economic development site
advisory committee" is created. The department shall provide
necessary administrative services to the committee.
B. The strategic economic development site
advisory committee is composed of:
(1) the secretary of energy, minerals and
natural resources or the secretary's designee;
(2) the secretary of environment or the
secretary's designee;
(3) a representative of the public
regulation commission appointed by the commission;
(4) the secretary of transportation or the
secretary's designee;
(5) the chief executive officer of the
New Mexico finance authority or the chief executive officer's STBTC/SB 169
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designee;
(6) the director of the economic development
division of the department; and
(7) five public members appointed by the
New Mexico legislative council who shall have experience in
law, architecture, planning, utilities, transportation or
economic development.
C. The public members appointed initially shall
draw lots for staggered terms in such a way that two members
shall serve for six years, two members shall serve for four
years and one member shall serve for two years. Thereafter,
the public members shall serve for six-year terms. A vacancy
in a term of a public member of the strategic economic
development site advisory committee shall be filled by the
New Mexico legislative council for the remainder of the
original term.
D. The members shall select a chair, who shall be
a public member and who shall serve a term of two years.
E. Members who are not public employees are
entitled to per diem and mileage as provided in the Per Diem
and Mileage Act but shall receive no other compensation,
perquisite or allowance.
F. A member of the strategic economic development
site advisory committee shall not participate in or influence
a decision by the committee in which that member has a STBTC/SB 169
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conflict of interest, pecuniary interest or other
disqualifying interest regarding a proposed strategic
economic development site. All members of the committee
shall certify annually and in writing compliance with this
subsection.
SECTION 5. STRATEGIC ECONOMIC DEVELOPMENT SITE ADVISORY
COMMITTEE--DUTIES.--The strategic economic development site
advisory committee has the following duties:
A. meet quarterly and at such other times as
deemed necessary by the chair;
B. review and recommend the designation of
proposed strategic economic development sites;
C. recommend approval or disapproval of
applications for grants and loans from the site readiness
fund, the public project revolving fund and other potential
funding sources;
D. recommend the promulgation of rules
establishing the application process and criteria for the
approval of strategic economic development sites in
accordance with the provisions of the State Rules Act; and
E. consult with state agencies and county and
local governments on technical issues relevant to the
committee's consideration of proposed strategic economic
development sites and applications for grants and loans from
the site readiness fund. STBTC/SB 169
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SECTION 6. STRATEGIC ECONOMIC DEVELOPMENT SITES--
DESIGNATION--IMPLEMENTATION.--
A. The secretary shall review site
characterization studies conducted pursuant to Section 3 of
the Strategic Economic Development Site Readiness Act and
shall determine, after consideration of the recommendations
of the strategic economic development site advisory
committee:
(1) whether there needs to be further study
of the characteristics of proposed economic development
sites; or
(2) whether the proposed economic
development site should be designated as a strategic economic
development site.
B. Upon designation as a strategic economic
development site, the secretary may solicit proposals from
public partners and private partners for site pre-development
projects that will enhance the readiness of the strategic
economic development site. Site pre-development projects may
include:
(1) surveying, engineering, planning and
architectural work required in advance of construction on
site development and building construction;
(2) environmental assessments and
remediation; STBTC/SB 169
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(3) public infrastructure improvements
necessary prior to the start of site development and building
construction, including roads and utilities;
(4) site preparation, including landscaping
and drainage improvements; and
(5) governmental permitting.
C. The secretary shall review proposals from
public partners and private partners for site pre-development
projects and shall determine, after consideration of the
recommendations of the strategic economic development site
advisory committee, which proposed site pre-development
projects could be funded in whole or in part by grants and
loans from the site readiness fund or should be recommended
for funding from the public project revolving fund or other
funding resources.
SECTION 7. SITE READINESS FUND--CREATED.--
A. The "site readiness fund" is created in the
state treasury. The fund consists of appropriations, gifts,
grants, donations, income from investment of the fund,
payments of principal and interest on loans made from the
fund and any other money distributed or otherwise allocated
to the fund. Income from the fund shall be credited to the
fund. Money in the fund shall not revert or be transferred
to any other fund at the end of a fiscal year.
B. The department shall administer the site STBTC/SB 169
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readiness fund. Money in the fund is appropriated to the
department for the purposes of carrying out the provisions of
the Strategic Economic Development Site Readiness Act,
including site characteristic studies of proposed economic
development sites and site preparations of strategic economic
development sites. Disbursements from the fund shall be made
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.
C. Money in the site readiness fund may be
used to provide grants and loans for financing site pre-
development projects.
D. Money in the site readiness fund may be used
for administrative and reimbursable costs incurred by the
department, subject to the legislative appropriation process.
SECTION 8. REPORT.--By October 1, 2026, and by October
1 of each year thereafter, the secretary shall provide a
report to the governor, the legislative finance committee and
the appropriate interim legislative committees regarding:
A. the number and location of proposed economic
development sites that have been approved for site
characterization studies;
B. the number and location of strategic economic
development sites that have been approved by the secretary;
C. the number and location of site pre-development STBTC/SB 169
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projects that have been approved by the secretary, including
those that have been approved for funding, in whole or in
part, through grants and loans from the site readiness fund,
the public project revolving fund or other funding resources;
D. the status of the site readiness fund; and
E. recommended changes to the Strategic Economic
Development Site Readiness Act.
SECTION 9. EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2025.