The proposed legislation establishes the Public-Private Partnership Fund and the Public-Private Partnership Program, aimed at facilitating broadband and transportation projects in New Mexico. The Local Government Division of the Department of Finance and Administration, in collaboration with the New Mexico Finance Authority, will administer the fund and provide grants to public partners for these projects. The fund will consist of various sources, including appropriations from the Public Project Revolving Fund, and will be used to cover administrative costs associated with the program. The division is tasked with evaluating grant applications based on criteria such as cost-benefit analysis, potential delays due to procurement rules, and the likelihood of project completion.

Additionally, the bill exempts public-private partnership agreements from the Procurement Code, streamlining the process for public partners to engage with private entities. It amends existing law to allow appropriations from the Public Project Revolving Fund to be directed to the newly created Public-Private Partnership Fund. The legislation also outlines the responsibilities of the division and the authority in evaluating projects and ensuring compliance with standards for public funds. Overall, this act aims to enhance infrastructure development through collaborative efforts between public and private sectors.

Statutes affected:
introduced version: 6-21-6.1