PUBLIC-PRIVATE PARTNERSHIPS FUND & PROGRAM

HB 276 creates a new Public-Private Partnership Fund and Program to provide grants for broadband and transportation projects in New Mexico. It directly affects state/local governments (public partners) and private companies (private partners) by allowing them to collaborate on infrastructure projects without following standard procurement rules. The program requires the Local Government Division to evaluate grant applications using cost-benefit analysis, assess project delays, and prioritize projects that expand internet access or address transportation infrastructure needs. Funds will come from the Public Project Revolving Fund, with grants covering project costs while ensuring public funds are safeguarded.