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Senate Finance gives unanimous recommendation to modernize state drinking-water revolving loan rules
Summary
The committee gave an 11-0 "do pass" recommendation to legislative changes allowing the state to align drinking-water revolving fund assistance with federal Safe Drinking Water Act provisions, including loans, grants and extended repayment terms.
The Senate Finance Committee voted unanimously to recommend House Bill 240, a proposal to revise the state’s drinking-water revolving loan statutes so they align with recent amendments to the federal Safe Drinking Water Act.
The bill would allow the New Mexico Finance Authority to offer financial assistance consistent with federal program changes, expand eligible project types to receive loan or grant support and extend permissible loan repayment periods, committee members heard.
A presenter identified as Mr. Chow described the bill’s purpose in committee testimony. The committee then moved the bill by a due-pass motion and recorded an 11-0 roll-call recommendation in favor.
Senators said the revision is technical and intended to preserve federal funding flexibility for New Mexico water systems. The committee’s unanimous recommendation advances the measure to the full Legislature for further action.
