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, including both family-home-based and center-based programs, as entities that can contribute to economic development. The bill stipulates that jobs at these facilities will be considered "new full-time economic base jobs" even if the majority of their revenue comes from within the state, which is a deviation from the existing requirement that such jobs must primarily generate revenue from outside New Mexico.

Additionally, the bill modifies the definition of "qualifying entity" to explicitly include child care facilities, thereby expanding the scope of entities that can receive support under the Local Economic Development Act. This change aims to enhance the support for child care services, acknowledging their importance in the local economy and community well-being. The amendments reflect a broader understanding of economic development that encompasses essential services like child care, which are critical for workforce participation and family stability.