HOUSING STUDY FOR LEDA SUPPORT

SB 223 requires businesses and organizations seeking state or local government funding for economic development projects (like manufacturing, cultural facilities, or retail) to conduct a housing study before applying for public support. The study must estimate housing demand created by new full-time jobs expected from the project, specifically jobs generating revenue outside New Mexico. This requirement applies to all applications for grants, loans, infrastructure improvements, or other public support under New Mexico's Local Economic Development Act. The bill does not change eligible project types but adds a pre-application step to ensure housing needs are considered in economic development planning.