New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 1 - PUBLIC FINANCE GENERAL PROVISIONS
Part 3 - STIMULATE ECONOMIC DEVELOPMENT
Section 2.1.3.3 - STATUTORY AUTHORITY

Universal Citation: 2 NM Admin Code 2.1.3.3
Current through Register Vol. 35, No. 18, September 24, 2024

These regulations are adopted by the economic development department ("EDD") pursuant to the Statewide Economic Development Finance Act, Section 6-25-1 to 6-25-28 NMSA 1978, ("Act") the purpose of which are to stimulate economic development in New Mexico and to provide a method of implementing the economic development assistance provisions of Article IX, Section 14.D of the constitution of the state. Section 6-25-5 NMSA 1978 provides that the department and the New Mexico finance authority ("authority") will coordinate to, among other things, identify and evaluate potential projects' suitability for financing assistance and formulate recommendations. These regulations are adopted pursuant to Subsection C of Section 6-25-5 NMSA 1978 and Section 1.24.10 NMAC. The purpose of these regulations is to govern the activities of the department under the Statewide Economic Development Finance Act.

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