A. After the adoption of an economic development plan by a local or regional government, a qualifying entity shall submit to the local or regional government an application for public support of a qualifying entity's economic development project.
B. The application shall be on a form and require such information as the local or regional government deems necessary.
History: Laws 1993, ch. 297, § 8; 2021, ch. 3, § 5.
The 2021 amendment, effective July 1, 2021, added language related to public support for qualifying entities' economic development projects; in the section heading, deleted "economic development project", and added "for public support"; and in Subsection A, after "local or regional government an", deleted "economic development project", and after "application", added "for public support of a qualifying entity's economic development project".
Structure New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 10 - Local Economic Development
Section 5-10-2 - Findings and purpose of act.
Section 5-10-5 - Economic development department; technical assistance.
Section 5-10-6 - Economic development plan; contents; publication.
Section 5-10-7 - Regional plans; joint powers agreement; regional government.
Section 5-10-8 - Applications for public support.
Section 5-10-9 - Project evaluation; department.
Section 5-10-11 - Project revenues; special fund; annual audit.
Section 5-10-12 - Plan and project termination.
Section 5-10-13 - Limitations.
Section 5-10-14 - Local Economic Development Act fund.
Section 5-10-16 - Grants to reimburse rent, lease or mortgage payments for certain businesses.