Opportunity Enterprise Fund Bill Passes First Committee

Santa Fe, NM-  House Bill 7, the Enterprise Opportunity Fund, which would expand  the availability of commercial building spaces for meaningful economic development in communities across New Mexico, passed the House Consumer and Economic Development Committee with a unanimous vote today. 

The Opportunity Enterprise Fund (OEF) would be a partnership program established within the New Mexico Finance Authority (NMFA) to enhance the ability of local communities to fund and construct commercial buildings that will directly support their economic development initiatives. Frequently, communities need commercial space—such as industrial parks or maker-spaces—to entice businesses and jobs.

“This program will help us diversify our economy and build future revenue streams all across New Mexico,” said Representative Meredith Dixon (D- Albuquerque). 

The bill was sponsored by Representative Dixon, Representative Linda Serrato (D-Santa Fe) and Speaker Egolf (D- Santa Fe). It now heads to the Appropriations and Finance Committee.

The Roundhouse is open to the public for the session. Proof of full COVID-19 vaccination will be required to enter the building. Members of the public can view floor sessions and committee meetings on the New Mexico legislature’s Webcasts tab, and provide comment via phone or Zoom as directed on the daily schedule.  

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