The bill amends Section 13-4-11 of the New Mexico Statutes to require that projects undertaken by municipalities or counties through the issuance of industrial revenue bonds must pay the prevailing wage and comply with existing provisions regarding minimum wages and fringe benefits for public works. This amendment emphasizes the obligation of contractors, subcontractors, and employers involved in such projects to adhere to the prevailing wage rates determined by the director, ensuring that laborers and mechanics are compensated fairly.

Additionally, the bill includes a new provision that explicitly states that for projects financed through industrial revenue bonds, the same rules regarding wage payments and compliance with the Public Works Minimum Wage Act apply. This aims to enhance accountability and protect workers' rights in public works projects funded by local governments, thereby reinforcing the importance of fair labor practices in the state.

Statutes affected:
introduced version: 13-4-11