§ 6-31A-6 — Project funding awards; process; terms

A. Priority shall be given to projects that: (1) create high-quality, high-wage jobs in New Mexico; (2) when applicable, have higher percentages of matching funds from non- public entities; (3) demonstrate strong potential for commercialization in a target sector; (4) support the growth of New Mexico-based companies; (5) benefit communities that are rural or in an Indian nation, tribe or pueblo; and (6) provide opportunities for broad regional participation. B. Awards of project funding shall: (1) allow for multiyear project periods aligned with federal or private sector grant or other non-state funding opportunity time lines; (2) permit pre-award project spending by applicants when necessary to meet non-state grant application deadlines; provided that applicants shall use non-state funding or other institutional funding for pre-award spending; and (3) provide that a certain amount of the funding may be used for an applicant's administrative costs to implement the project.

Legislative History

Laws 2025, ch. 133, § 10.