SENATE BILL 133

56th legislature - STATE OF NEW MEXICO - second session, 2024

INTRODUCED BY

Carrie Hamblen

 

 

 

 

 

AN ACT

RELATING TO TRANSPORTATION; REQUIRING THAT THE DEPARTMENT OF TRANSPORTATION ADMINISTER A DISADVANTAGED BUSINESS ENTERPRISE PROGRAM AND EXPEND NO LESS THAN THIRTY PERCENT OF PROGRAM- ELIGIBLE FEDERALLY ASSISTED CONTRACT FUNDS WITH DISADVANTAGED BUSINESS ENTERPRISES.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. A new section of Chapter 67 NMSA 1978 is enacted to read:

     "[NEW MATERIAL] DISADVANTAGED BUSINESS ENTERPRISE PROGRAM--REQUIREMENTS.--

          A. The department shall administer the disadvantaged business enterprise program provided by federal law and shall expend no less than thirty percent of federally assisted contract funds eligible for the disadvantaged business enterprise program with certified disadvantaged business enterprises.

          B. As used in this section:

                (1) "certified disadvantaged business enterprise" means a business certified pursuant to federal law by the department as a small business:

                     (a) that performs or seeks to perform transportation-related work;

                     (b) that is at least fifty-one percent owned by one or more persons who are socially and economically disadvantaged or, in the case of a corporation, in which fifty-one percent of the stock is owned by one or more such persons; and

                     (c) whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged persons who own it; and

                (2) "federally assisted contract" means a contract between a recipient and a contractor funded in whole or in part with financial assistance from the United States department of transportation, including letters of credit or loan guarantees, except a contract solely for the purchase of land."

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