HB 469 — BORDER AUTHORITY & DIRECTOR REQUIREMENTS

"bondholder"b meansr ae persont whoº iso thet ownern of= i.230749.3AIC aMarch e12, r2025 20(8:36pm) as bond,k regardlessm ofe whether- the4 bond- ise registered]." a tn me md 21r SECTIONe 2.l u [ A d I.

Section"bondholder" 58-27-4means NMSAa 1978person (beingwho Lawsis 1991,the downer rof ea 22bond, Chapterregardless 131,of Sectionwhether 4,the asbond amended) is amendedregistered]." toSECTION read:2.

cSection e58-27-4 sNMSA k1978 23(being "58-27-4.Laws 1991, Chapter 131, Section 4, as amended) is amended to read:

BORDER"58-27-4. AUTHORITY CREATED--MEMBERSHIP.-- e a n b 24 A.

BORDER AUTHORITY CREATED--MEMBERSHIP.-- A.

The u [ authority is a state agency and is administratively attached to .230749.3 - 4 - the economic development department.

[The chair may appoint a nonvoting advisory committee h to provide advice and recommendations on authority matters.

g o t hr C.

The six voting members of the authority g e i k appointed by the governor shall be citizens of the state and h r i s shall serve for terms of four years except for the initial h , t, appointees who shall be appointed so that the terms are e u g e b l e e h staggered after initial appointment.

Initial appointees shall n d d i = = o h serve terms as follows:

two members for two years, two members el t] 17b ,d i a º e for three years and two members for four years.] wr li n= r t e w d 18m a n o C.

The authority consists of theHfl1ºthe following nined =m =: 19 a l members:

ib e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 5 - e a n e d r 20e (1)l theu secretary[ ofA economicd developmentnine ormembers»Hfl1 aHfl1ºtwo tstatutory mmembers mand 21seven theappointed secretary'smembers designee;as follows;

dprovided rthat eno 22more (2)than thethree secretaryappointed ofmembers transportationshall orbe theregistered cmembers eof sthe ksame 23political secretary'sparty»Hfl1 designee;:

e(1) a n b 24 (3) three members appointed by the governor,secretary uof [economic subjectdevelopment toor the advicesecretary's anddesignee; consent of the senate, who:

.230749.3(2) -the 5secretary -of (a)transportation areor Newthe Mexicosecretary's residents;designee;

(3) three members appointed by the governor, subject to the advice and consent of the senate, who:

(a) are New Mexico residents;

9) h international commerce;

g o t hr (4) one member appointed by the governor, g e i k subject to the advice and consent of the senate, who is a city h r i s councilor or mayor of a municipality with a jurisdiction that h , t, e u g is within twentyHCEDCºtwenty»HCEDC HCEDCºfifteen»HCEDC miles of a e b l e e h port of entry;

n d d i = = o h (5) one member appointed by the governor, l ] b ,d i a º e subject to the advice and consent of the senate, who is a r i = r t e w d m a n o member of a board of county commissioners of a county with a jurisdictiond thatm includes: a port of entry;

(6)b onee memberd appointeds byº theo speakert ofn the= .230749.3AIC March 12, 2025 (8:36pm) s k m e t- 176 house- e a n e d r e l u [ A d jurisdiction that includes a port of representatives;entry;

and(6) w l n d 18 (7) one member appointed by the presidentspeaker proof =the =house 19 a l tempore of therepresentatives; senate.

iand a(7) eone rmember 20appointed D.by the president pro tempore of the senate.

TheD. members of the authority appointed by the a t m m 21 governor pursuant to Subsection B of this section shall serve d r e 22 the following terms:

cThe emembers sof kthe 23authority (1)appointed oneby initialthe appointee,governor apursuant one-yearto term;Subsection HCEDCºB»HCEDC HCEDCºC»HCEDC of this section shall serve the following terms:

e(1) a n b 24 (2) one initial appointee, a two-yearone-year term;

u(2) [ (3) one initial appointee, a three-yeartwo-year term;

.230749.3(3) - 6 - (4) one initial appointee, a four-yearthree-year term;

(4) one initial appointee, a four-year term;

h (1) the two United States senators g o t hr representing New Mexico or those senators' designees;

g e i k (2) the United States representative h r i s representing New Mexico's second congressional district or the h , t, representative's designee;

e u g e b l e e h (3) the governor of the state of Chihuahua, n d d i = = o h Mexico, or the governor's designee;

l ] b ,d i a º e (4) the governor of the state of Sonora, r i = r t e w d m a n o Mexico, or the governor's designee;

(5)d am person: involved with business development in Mexico;

andb e d s º o t 17n (6)= additional.230749.3AIC membersMarch as12, deemed2025 necessary(8:36pm) ands wk lm e - 7 - e a n e d 18r approvede byl theu authority."[ =A =d 19(5) a lperson SECTIONinvolved 3.with business development in Mexico;

Sectionand 58-27-6(6) NMSAadditional 1978members (beingas Lawsdeemed 1991,necessary iand aapproved eby rthe 20authority." ChapterSECTION 131,3. Section 6, as amended) is amended to read:

aSection t58-27-6 mNMSA m1978 21(being "58-27-6.Laws 1991, Chapter 131, Section 6, as amended) is amended to read:

OFFICERS"58-27-6. OF THE AUTHORITY.--The [secretary of d r e 22 economic development shall serve as the chairman of the c e s k 23 authority.

AuthorityOFFICERS membersOF shallTHE electAUTHORITY.--The any[secretary otherof officerseconomic edevelopment ashall nserve bas 24 from the membershipchairman that the authority determines appropriate] u [ members of the authorityauthority. shall elect a voting member to be its .230749.3 - 7 - chair and a voting member to be its vice chair.

Authority members shall elect any other officers from the membership that the authority determines appropriate] members of the authority shall elect a voting member to be its chair and a voting member to be its vice chair.

Section 58-27-10 NMSA 1978 (being Laws 1991, h Chapter 131, Section 10, as amended) is amended to read:

g o t hr "58-27-10.

POWERS AND DUTIES OF AUTHORITY.-- g e i k A.

h r i s (1) advise the governor and the governor's h , t, staff and the New Mexico finance authority oversight committee e u g e b l e e h on [methods, proposals]proposals ] programs and initiatives [involving the n d d i = = o h New Mexico-Chihuahua] for development in the New Mexico-Mexico l ] b ,d i a º e border area that may [further] stimulate the border economy and provider additionali employment= opportunitiesr fort Newe Mexicow [citizens]d residentsm anda onn theo methodsprovide andadditional proposalsemployment relatedopportunities tofor thoseNew programsMexico andd initiatives;m :

b e d s º o t 17n (2)= subject.230749.3AIC toMarch the12, provisions2025 of(8:36pm) thes Borderk wm le - 8 - e a n e d 18r Developmente Act,l initiate,u develop,[ acquire,A own,d construct[citizens] residents and =on =the 19methods aand lproposals maintainrelated borderto developmentthose projects;programs and initiatives;

i(2) asubject e r 20 (3) create programs to expandthe economicprovisions aof t m m 21 opportunities beyond the [NewBorder Mexico-Chihuahua]Development NewAct, Mexico-initiate, ddevelop, racquire, eown, 22construct Mexicoand maintain border areadevelopment toprojects; other areas of the state;

c(3) e s k 23 (4) create avenuesprograms ofto communicationexpand betweeneconomic eopportunities abeyond nthe b[New 24Mexico-Chihuahua ] New MexicoMexico- and [Chihuahua and the Republic of] Mexico uborder [area concerningto economicother development,areas trade,of [and]the commerce,state; .230749.3 - 8 - transportation and industrial affairs;

(5)(4) promotecreate legislationavenues thatof willcommunication furtherbetween New Mexico and [Chihuahua and the goalsRepublic of the] authorityMexico andconcerning developmenteconomic ofdevelopment, thetrade, border[and [region]] area;commerce, transportation and industrial affairs;

(6)(5) producepromote orlegislation causethat towill havefurther producedthe promotionalgoals literatureof [related to explanation and fulfillment of] explaining the authority'sauthority goals and reportingdevelopment onof the progressborder made[region toward] thosearea; goals;

(7)(6) activelyproduce recruitor industriescause to have produced h promotional literature [related to explanation and establishfulfillment programsg thato willt resulthr inof] explaining the locationauthority's goals and relocationreporting ofon newthe industriesg ine thei state;k progress made toward those goals;

(8)h coordinater i s (7) actively recruit industries and expediteestablish h , t, programs that will result in the involvementlocation and relocation of thenew [executivee department's]u stateg agencye borderb areal developmente efforts;e h industries in the state;

(9)n performd ord causei to= be= performedo environmental,h transportation,(8) communication,coordinate land use and eexpedite tthe 17involvement otherof technical studies necessary or advisable for projects or w l n] db 18,d programsi ora toº securee port-of-entry approval by the United[executive =department's =] 19state aagency lborder Statesarea andr thei Mexican= governmentsr andt othere appropriatew id m a en ro 20development governmentalefforts; agencies;

andd a t m m: 21 (10) administer the border project fund and d r e 22 projects financed with expenditures from that fund pursuant to c e s k 23 Section 58-27-25.1 NMSA 1978.

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 9 - e a n be 24d B.r e l u [ A d (9) perform or cause to be performed environmental, transportation, communication, land use and other technical studies necessary or advisable for projects or programs or to secure port-of-entry approval by the United States and the Mexican governments and other appropriate governmental agencies;

and (10) administer the border project fund and projects financed with expenditures from that fund pursuant to Section 58-27-25.1 NMSA 1978.

B.

u [ (1) solicit and accept federal, state, local .230749.3 - 9 - and private grants of funds, property or financial or other aid in any form [for the purpose of carrying out]out ] to carry out the provisions of the Border Development Act;

(2) adopt rules governing [the manner in which its business is transacted and the manner in which the powers h of the authority are exercised and its duties performed] its g o t hr transaction of business, the exercise of its powers or the g e i k performance of its duties;

h r i s (3) act as an applicant for and the operator h , t, of port-of-entry facilities and, as the applicant, carry out e u g e b l e e h all related tasks and functions, including:

[acquisition by n d d i = = o h purchase or gift of any real property necessary for port-of- l ] b ,d i a º e entry facilities, acquisition by purchase, gift or construction ofr anyi facilities= orr othert reale orw personald propertym necessary for a portn ofo entry and filing all necessary documents and follow-up of suchany filingsfacilities with appropriate agencies] e t 17 (a) acquiring by purchase or giftother real wor lpersonal n d 18 property necessary ford port-of-entrym facilities;:

=b e d s º o t n = 19.230749.3AIC aMarch l12, (b)2025 acquiring(8:36pm) bys purchase,k giftm ore i- 10 - e a n e d r 20e constructionl facilitiesu or[ otherA reald orfor personala propertyport aof tentry mand mfiling 21all necessary fordocuments aand portfollow-up of entry;such filings with appropriate agencies] (a) acquiring by purchase or gift real property necessary for port-of-entry facilities;

and(b) dacquiring rby epurchase, 22gift (c)or filingconstruction necessaryfacilities documentsor andother creal eor spersonal kproperty 23necessary followingfor upa onport thoseof filingsentry; with the appropriate agencies;

eand a(c) nfiling bnecessary 24documents (4) as part of a port of entry, give or u [ transfer real property, facilities and improvementsfollowing ownedup byon .230749.3those -filings 10with - the authorityappropriate toagencies; the United States government;

(5)(4) acquireas bypart construction,of purchase,a giftport of entry, give or leasetransfer projectsreal [thatproperty, shallfacilities beand locatedimprovements within]owned inby the state;authority to the United States government;

(6)(5) sell,acquire leaseby orconstruction, otherwisepurchase, disposegift ofor alease projectprojects upon[that termsshall andbe conditionslocated acceptablewithin to] the authority and in the best interests of the state;

(7)(6) entersell, intolease agreementsor withotherwise thedispose [federal]of Uniteda Statesproject governmentupon forterms and conditions acceptable to the operation,authority improvementh and expansionin ofthe federalbest borderinterests facilities;of the state;

(8)g o t hr (7) enter into jointagreements ventures,with partnershipsthe or[federal other] businessg relationshipse withi qualifiedk entitiesUnited andStates privategovernment persons for the jointoperation, fundingimprovement and operationh r i s expansion of projects;federal border facilities;

(9)h , t, (8) enter into agreementsjoint ventures, partnerships or e u g e b l e e h other business relationships with privatequalified personsentities concerningHJCº theand advancen ofd moneyd byi private= persons= foro publich purposesprivate orpersons»HJC for the grantingjoint offunding realand propertyoperation byof privatel persons] eb t,d 17i fora publicº purposes;e projects;

wr li n d 18 [(9)] (10) issue revenue bonds and borrow = =r 19t a l money [for the purpose of defraying] to defray the cost of i a e rw 20d acquiringm a projectn byo purchaseHJCº or(9) constructionenter andinto toagreements securewith aprivate td m m: 21 the payment of [the] project bonds or [repayment of a] the d r e 22 repayment of a project loan;

cb e d s kº 23o [(10)]t (11)n expend= funds.230749.3AIC orMarch incur12, debt2025 for(8:36pm) thes k m e - 11 - e a n be 24d improvement,r maintenance,e repairl u [ A d persons concerning the advance of money by private persons for public purposes or additionthe togranting of real property ownedby uprivate [persons byfor public purposes;»HJC [(9)] HJCº(10)»HJC HJCº(9)»HJC issue revenue bonds and borrow money [for the authority,purpose of defraying] to defray the statecost of acquiring a project by purchase or construction and to secure the Unitedpayment Statesof government;[the ] project bonds or [repayment of a] the repayment of a project loan;

.230749.3[(10)] -HJCº(11)»HJC 11HJCº(10)»HJC -expend andfunds [(11)]or (12)incur refinancedebt afor project.the improvement, maintenance, repair or addition to property owned by the authority, the state or the United States government;

and [(11)] HJCº(12)»HJC HJCº(11)»HJC refinance a project.

In exercising its authority, the authority shall not incur debt as a general obligation of the state or pledge h the full faith and credit of the state to repay debt." g o t hr SECTION 5.

Section 58-27-12 NMSA 1978 (being Laws 1991, g e i k Chapter 131, Section 12, as amended) is amended to read:

h r i s "58-27-12.

AUTHORITY STAFF--CONTRACTS.-- h , t, e u g [A.

The authority shall hire an executive director e b l e e h who shall employ the necessary professional, technical and n d d i = = o h clerical staff to enable the authority to function efficiently.

l ] b ,d i a º e r i = r B.

The executive director of the authority shall t e w d m a n o direct the affairs and business of the authority, subject to thed policies,m control: and direction of the authority] A.

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 12 - e a n e d r e l u [ A d the policies, control and direction of the authority] A.

e t 17 (1) a doctorate in jurisprudence or a w l n d 18 baccalaureate degree in accounting, agronomy, business, = = 19 a l economics, engineering or finance;

and i a e r 20 (2) four years of professional experience in a t m m 21 business management, economic or land development or freight d r e 22 shipping or supply chain logistics, including at least two c e s k 23 years of experience in a managerial and policy-making position e a n b 24 at a business entity.

u [ B.

.230749.3 - 12 - (1) hire professional, technical and clerical staff as necessary to enable the authority to function efficiently;

and (2) direct the affairs and business of the h authority, subject to the policies, control and direction of g o t hr the authority.

g e i k C.

The authority may contract with any other h r i s competent private or public organization or individual to h , t, assist in the fulfillment of its duties." e u g e b l e e h SECTION 6.

Section 58-27-13 NMSA 1978 (being Laws 1991, n d d i = = o h Chapter 131, Section 13) is amended to read:

l ] b ,d i a º e "58-27-13.

LOCATION OF AUTHORITY.--The authority shall be r i = r t e w d m a n o located in the [New Mexico-Chihuahua]Mexico-Chihuahua ] New Mexico-Mexico border area."d SECTIONm 7.:

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 13 - e a n e d r e l u [ A d area." SECTION 7.

e t 17 "58-27-21.

[BORDER][BORDER ] AUTHORITY REVENUE BONDS--REFUNDING w l n d 18 AUTHORIZATION.-- = = 19 a l A.

The authority may issue refunding revenue bonds i a e r 20 [for the purpose of refinancing, paying and discharging all or a t m m 21 any] to refinance, pay or discharge all or part of the d r e 22 outstanding authority revenue bonds of [any] one or more [or c e s k 23 all] outstanding issues to:

e a n b 24 (1) [for the acceleration, deceleration or u [ other modification of] accelerate, decelerate or otherwise .230749.3 - 13 - modify the payment of such obligations, including [without limitation] any capitalization of [any] interest [thereon] on those obligations in arrears or about to become due for [any period not exceeding] a period of one year from the date of the h refunding bonds;

g o t hr (2) [for the purpose of reducing]reducing ] reduce g e i k interest costs or [effecting] effect other economies;

and h r i s (3) [for the purpose of modifying or h , t, eliminating] modify or eliminate restrictive contractual e u g e b l e e h limitations pertaining to the issuance of additional bonds, n d d i = = o h otherwise concerning the outstanding bonds or to any facilities l ] b ,d i a º e relating [thereto;

or r i = r t e w d m a n o (4) for any combination of those purposes] to thosed bonds.m :

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 14 - e a n e d r e l u [ A d those bonds.

The authority may pledge irrevocably for the payment of interest and principal on refunding bonds the e t 17 appropriate pledged revenues [which][which ] that may be pledged to an w l n d 18 original issue of bonds.

= = 19 a l C.

Bonds for refunding and bonds for any purpose i a e r 20 permitted by the Border Development Act may be issued a t m m 21 separately or issued in combination in one series or more." d r e 22 SECTION 8.

Section 58-27-25 NMSA 1978 (being Laws 1991, c e s k 23 Chapter 131, Section 25, as amended) is amended to read:

e a n b 24 "58-27-25.

FUND CREATED.-- u [ A.

The "border authority fund" is created in the .230749.3 - 14 - state treasury.

Separate accounts within the fund may be created for [any project] projects.

Money in the fund is appropriated to the authority for the purposes of carrying out the provisions of the Border Development Act.

Money in the fund shall not revert at the end of a fiscal year.

B.

Except as provided in Subsections E and F of this section, money received by the authority shall be deposited in the border authority fund, including [but not limited to] all:

(1) [the] proceeds of bonds issued by the authority or from any loan to the authority made pursuant to the Border Development Act;

(2) interest earned [upon] on money in the fund;

(3) [any] property or securities acquired through the use of money belonging to the fund and earnings e t 17 from those assets;

w l n d 18 [(4) all earnings of such property or = = 19 a l securities;

i a e r 20 (5)] (4) lease or rental payments received by a t m m 21 the authority from [any] a project and distributed to the fund d r e 22 pursuant to Subsection F of this section;

c e s k 23 [(6) all] (5) other money received by the e a n b 24 authority from any public or private source except [that, if u [ the public or private source expresses an intent that the money .230749.3 - 15 - be used] money designated by the source for projects pursuant to Section 58-27-25.1 NMSA 1978, [then the money] which shall instead be deposited into the border project fund [and not the border authority fund];

and [(7)] (6) tolls, fees, rents or other charges imposed and collected by the authority and distributed to the fund pursuant to Subsection F of this section.

DisbursementsBonds fromfor therefunding borderand authoritybonds fundfor shallany bepurpose madepermitted only upon warrant drawn by the secretaryBorder ofDevelopment financeAct andmay administrationbe pursuantissued toseparately vouchersor signedissued byin thecombination executivein directorone ofseries the authority or themore." executiveSECTION director's8. designee pursuant to the Border Development Act;

providedSection that58-27-25 inNMSA the1978 event(being theLaws position1991, ofChapter executive131, directorSection is25, vacant,as vouchersamended) mayis beamended signedto byread: the chair of the authority.

"58-27-25.

FUND CREATED.-- A.

The "border authority fund" is created in the state treasury.

Separate accounts within the fund may be created for [any project ] projects.

Money in the fund is appropriated to the authority for the purposes of carrying out the provisions of the Border Development Act.

Money in the h fund shall not revert at the end of a fiscal year.

g o t hr B.

Except as provided in Subsections E and F of g e i k this section, money received by the authority shall be h r i s deposited in the border authority fund, including [but not h , t, limited to] all:

e u g e b l e e h (1) [the ] proceeds of bonds issued by the n d d i = = o h authority or from any loan to the authority made pursuant to l ] b ,d i a º e the Border Development Act;

r i = r t e w d m a n o (2) interest earned [upon ] on money in the d m :

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 15 - e a n e d r e l u [ A d fund;

(3) [any ] property or securities acquired through the use of money belonging to the fund and earnings from those assets;

[(4) all earnings of such property or securities;

(5)] (4) lease or rental payments received by the authority from [any ] a project and distributed to the fund pursuant to Subsection F of this section;

[(6) all] (5) other money received by the authority from any public or private source except [that, if the public or private source expresses an intent that the money be used] money designated by the source for projects pursuant to Section 58-27-25.1 NMSA 1978, [then the money ] which shall instead be deposited into the border project fund [and not the border authority fund];

and h [(7)] (6) tolls, fees, rents or other charges g o t hr imposed and collected by the authority and distributed to the g e i k fund pursuant to Subsection F of this section.

h r i s C.

Disbursements from the border authority fund h , t, shall be made only upon warrant drawn by the secretary of e u g e b l e e h finance and administration pursuant to vouchers signed by the n d d i = = o h executive director of the authority or the executive director's l ] b ,d i a º e designee pursuant to the Border Development Act;

provided that r i = r t e w d m a n o in the event the position of executive director is vacant, d m :

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 16 - e a n e d r e l u [ A d vouchers may be signed by the chair of the authority.

In addition, in the event e t 17 that the proceeds from the issuance of bonds or from money w l n d 18 borrowed by the authority are deposited in the state treasury, = = 19 a l interest earned on that money during the period commencing with i a e r 20 the deposit in the state treasury until the actual transfer of a t m m 21 the money to the fund shall be credited to the fund.

d r e 22 E.

All proceeds from issuing revenue bonds shall be c e s k 23 placed in trust with a chartered bank to be [dispersed][dispersed e] a n b 24 disbursed by the trustee, pursuant to the terms [set forth] in u [ the bonding resolution adopted by the authority.

.230749.3 - 16 - F.

Ten percent of the tolls, fees, rents, lease payments and other charges that are imposed, collected and received by the authority shall be deposited [into][into ] in the border project fund and the remaining ninety percent shall be h deposited into the border authority fund;

provided that the g o t hr money deposited [into][into ] in the border authority fund shall be g e i k expended only as appropriated and in accordance with a budget h r i s approved by the state budget division of the department of h , t, finance and administration." e u g e b l e e h SECTION 9.

Section 58-27-25.1 NMSA 1978 (being Laws n d d i = = o h 2011, Chapter 59, Section 4) is amended to read:

l ] b ,d i a º e "58-27-25.1.

BORDER PROJECT FUND--CREATED--PURPOSE-- r i = r t e w d m a n o EXPENDITURES.-- A.d m :

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 17 - e a n e d r e l u [ A d A.

e t 17 (1) payments of principal and interest on w l n d 18 loans for projects;

= = 19 a l (2) [the][the ] that portion of the tolls, fees, i a e r 20 rents, lease payments or other charges that are imposed, a t m m 21 collected and received by the authority and distributed to the d r e 22 fund pursuant to Subsection F of Section 58-27-25 NMSA 1978;

c e s k 23 (3) money from public or private sources [and][and e] a n b 24 that is deposited into the fund pursuant to Paragraph [(6)] (5) u [ of Subsection B of Section 58-27-25 NMSA 1978;

.230749.3 - 17 - (4) money appropriated by the legislature or distributed or otherwise allocated to the fund;

and h (6) income from investment of the fund, which g o t hr shall be credited to the border project fund.

g e i k C.

Except for severance tax bond proceeds required h r i s to revert to the severance tax bonding fund, balances in the h , t, border project fund at the end of a fiscal year shall not e u g e b l e e h revert to any other fund.

n d d i = = o h D.

The [border project fund may consist of l ] b ,d i a º e subaccounts as determined to be necessary by the] authority may r i = r t e w d m a n o establish one or more subaccounts of the border project fund as itd deemsm necessary.:

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 18 - e a n e d r e l u [ A d it deems necessary.

e t 17 (1) providing financial assistance in the form w l n d 18 of grants or loans with terms and conditions approved by the = = 19 a l authority to qualified entities for projects;

i a e r 20 (2) [costs incurred in the operation of a port a t m m 21 of entry or related project pursuant to a joint powers d r e 22 agreement entered into with the federal government] paying c e s k 23 costs incurred pursuant to agreements with private persons e a n b 24 concerning the advance of money by a private person for a u [ public purpose;

or .230749.3 - 18 - (3) paying costs incurred in the joint funding or operation of a project as part of a joint venture [partnership or other business relationship with a qualified entity or private person].

h F.

The authority may establish procedures and adopt g o t hr rules as required to:

g e i k (1) administer the border project fund;

h r i s (2) originate financial assistance in the form h , t, of grants or loans with terms and conditions approved by the e u g e b l e e h authority for projects selected by the authority;

and n d d i = = o h (3) govern the process through which qualified l ] b ,d i a º e entities may apply for financial assistance from the border r i = r t e w d m a n o project fund." SECTIONd 10.m :

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e - 19 - e a n e d r e l u [ A d SECTION 10.

NEW MEXICO FINANCE AUTHORITY OVERSIGHT e t 17 COMMITTEE--REPORTS--OVERSIGHT POWERS AND DUTIES.-- w l n d 18 A.

On or before November 30, 2026 and on or before = = 19 a l November 30 of each subsequent year, the authority shall i a e r 20 provide a report concerning the status of its projects to the a t m m 21 legislative finance committee.

d r e 22 B.

The New Mexico finance authority oversight c e s k 23 committee shall serve as the oversight committee to the border e a n b 24 authority.

The New Mexico finance authority oversight u [ committee shall:

.230749.3 - 19 - [A.] (1) monitor and oversee the operation of the border authority;

[B.] (2) meet on a regular basis to receive and review reports from the border authority on implementation h of the provisions of the Border Development Act and to review g o t hr and approve regulations proposed for adoption pursuant to that g e i k act;

h r i s [C.] (3) monitor and provide assistance and h , t, advice on the project financing program of the border e u g e b l e e h authority;

n d d i = = o h [D.] (4) oversee and monitor state and local l ] b ,d i a º e government capital planning and financing and take testimony r i = r t e w d m a n o from state and local officials on border and port of entry capitald needs;m :

[E.]b (5)e provided advices andº assistanceo tot then border= authority.230749.3AIC andMarch cooperate12, with2025 the(8:36pm) executives branchk ofm e t- 1720 state- governmente anda localn governmentse ond planning,r settinge w l nu d[ 18A prioritiesd for and financing of border and port of entry = = 19 a l capital projects;needs;

i[E.] a(5) eprovide radvice 20and [F.]assistance (6)to undertakethe anborder ongoingauthority examinationand ofcooperate awith tthe mexecutive mbranch 21of thestate statutes,government constitutionaland provisions,local regulationsgovernments andon courtplanning, dsetting rpriorities efor 22and decisionsfinancing governingof border and port of entry capital financingprojects; c e s k 23 in New Mexico;

and[F.] e(6) aundertake nan bongoing 24examination [G.]of (7)the reportstatutes, itsconstitutional findingsprovisions, regulations and ucourt [decisions recommendations,governing includingborder recommendedand legislationport orof necessaryentry .230749.3capital -financing 20in -New changes,Mexico; to the governor and to each session of the legislature.

and [G.] (7) report its findings and recommendations, including recommended legislation or necessary changes, to the governor and to each session of the legislature.

TEMPORARY PROVISION--RESTRUCTURING OF BORDER h AUTHORITY.--On July 1, 2026 the terms of the voting members of g o t hr the border authority as of June 30, 2026 shall end, and voting g e i k members appointed pursuant to Section 2 of this act shall be h r i s installed as voting members of the authority.

h , t, SECTION 12.

REPEAL.--Section 58-27-7 NMSA 1978 (being e u g e b l e e h Laws 1991, Chapter 131, Section 7) is repealed.

n d d i = = o h SECTION 13.

EFFECTIVE DATE.--The effective date of the l ] b ,d i a º e provisions of this act is July 1, 2025.

-r 21i -= 15r e t 17e w l n d 18m = = 19 a ln io a- e21 r- 20d a t m m: 21 d r e 22 c e s k 23 e a n b 24 u [ .230749.3

b e d s º o t n = .230749.3AIC March 12, 2025 (8:36pm) s k m e e a n e d r e l u [ A d