NMFA DEFINITIONS, FUNDS & RATES

SB 170 revises definitions and funding rules for New Mexico's Public Project Revolving Fund under the New Mexico Finance Authority Act. It clarifies what qualifies as a "public project" (e.g., infrastructure, utilities, housing) and expands the list of eligible "qualified entities" that can access funding, including cities, schools, tribes, and utilities. The bill updates how money in the revolving fund can be used for loans, grants, and securities to finance public projects, while also revising economic development rate rules for gas and electric utilities. These changes directly affect local governments, public institutions, and utility providers seeking to fund infrastructure projects through state financing.