The proposed bill enacts the "Military Base Planning and Impact Act," which establishes the Military Base Impact Fund to provide grants to defense communities in New Mexico. The fund is designed to support infrastructure projects that accommodate or leverage military facility expansions, retain military missions, and stimulate the development of new employers in defense-related sectors. The bill outlines the definitions of key terms, including "defense community," "defense worker," and "military facility," and assigns the economic development department the responsibility of administering the fund.

Additionally, the bill mandates the military office to implement a grant program with specific requirements and limitations, including a maximum grant amount of 90% of project costs. It also requires the military office to report annually on the status of the fund and the success of funded projects. The bill repeals the sunset provision for the Office of Military Base Planning and Support and the Military Base Planning Commission, ensuring their continued operation. Furthermore, it reassigns and recompiles certain sections of existing law to align with the new provisions.

Statutes affected:
introduced version: 9-15-64, 9-15-51.1
LV substitute: 9-15-64, 9-15-51.1
Final Version: 9-15-64, 9-15-51.1