New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 92 - LEDA RECOVERY GRANT
Part 1 - GENERAL PROVISIONS
Section 2.92.1.6 - OBJECTIVE

Explanatory note: On March 11, 2020, in response to the presence in New Mexico of a highly contagious respiratory novel coronavirus disease known as COVID-19, Governor Michelle Lujan Grisham declared that a public health emergency exists in New Mexico under the Public Health Emergency Response Act, and invoked all power and authority under the All Hazards Emergency Management Act. On March 23, 2020, the New Mexico department of health, pursuant to the All Hazards Emergency Management Act, issued a public health emergency order to close all businesses and non-profit entities except for those deemed essential, while also limiting mass gatherings due to COVID-19. Since March 23, 2020, the Public Health Emergency Order has been extended and modified to address the ongoing threat of COVID-19. On February 26, 2021, during the 1st Session of the 55th Legislature, the Governor signed into law House Bill 11 (hereafter, the "LEDA Recovery Grants Legislation"), whereby two hundred million dollars ($200,000,000) was appropriated from the state of New Mexico general fund to the New Mexico economic development department ("department" or "NMEDD") for expenditure in fiscal years 2021 through 2023 ("LEDA Grant Funds") to provide grants, through the NMFA, for the reimbursement of rent, lease or mortgage payments. These rules govern the implementation and administration of the LEDA Recovery Grant Fund enacted under the LEDA Recovery Grants Legislation, and do not apply to other programs established by the economic development department.