TECH & INNOVATION NETWORK ADVISORY BOARD

Reduced the number of public members on the advisory board from 11 to 9, with new requirements that these members have experience in investment or entrepreneurial support in four specific sectors: aerospace and space, biosciences, clean energy and water, and advanced computing.

Removed representatives from the University of New Mexico Health Sciences Center, Navajo Technical University, and Central New Mexico Community College as core members of the advisory board.

Removed the requirement that one representative from private industry must be a member of a subcommittee created by the advisory board, while adding requirements for subcommittees to include representatives from specific target sectors.

Created new funding provisions for quantum facility infrastructure projects, allowing up to $50 million per facility with a total cap of $75 million, requiring applicants to make at least $3 million in qualified quantum expenditures.

Created new funding provisions for fusion facility projects, allowing up to $50 million per facility with a total annual cap of $75 million, requiring applicants to have invested at least $10 million in New Mexico and employ at least 30 full-time employees.

Added new definitions for 'quantum facility,' 'quantum technology,' 'fusion facility,' 'fusion machine,' and 'qualified fusion capital expenditure' to clarify eligibility for new funding programs.

Established temporary provisions for the expiration of terms of service for advisory board members and subcommittee members removed by this act, with new members to be appointed by July 1, 2026.