LAND GRANT-MERCED INFRASTRUCTURE ACT

HB 25 creates the Land Grant-Merced Infrastructure Act to provide funding for infrastructure projects in designated land grant-merced communities (historical land grant communities recognized as political subdivisions under New Mexico law). It establishes a trust fund that distributes $18 million annually to a project fund, which provides grants for eligible projects like water systems, roads, health facilities, and economic development infrastructure. The bill also allocates 1.1% of state severance tax bond capacity specifically for these projects, with funds managed by a land grant council and administered by the Department of Finance. This legislation directly affects land grant-merced communities by creating a dedicated funding stream for their infrastructure needs.