The bill amends the Local Economic Development Act to include child care facilities as qualifying entities eligible for public support. Specifically, it introduces new definitions and criteria that recognize child care facilities, both family-home-based and center-based programs, licensed by the early childhood education and care department, as entities that can contribute to economic development projects. This inclusion allows these facilities to be considered for public support under the same provisions that apply to other qualifying entities, such as businesses involved in manufacturing, processing, or providing services.

Key changes in the bill include the insertion of language that specifies child care facilities as qualifying entities and modifies the definition of "new full-time economic base job" to exempt these facilities from certain job criteria that typically apply to other industries. Additionally, the bill removes the previous exclusion of child care facilities from the definition of qualifying entities, thereby expanding the scope of the Local Economic Development Act to support the growth and sustainability of child care services in New Mexico.