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House committee clears bill to authorize P3 program for transportation and broadband
Summary
House sponsors presented House Bill 276 to create a Public‑Private Partnership (P3) Fund and Program limited to transportation and broadband; witnesses from local governments, business and labor supported the bill and the committee cleared the measure for further consideration.
Representatives Garrett and Lundstrom presented House Bill 276, which would create a Public‑Private Partnership Fund and Program administered by the Local Government Division of the Department of Finance and Administration and evaluated in coordination with the New Mexico Finance Authority (NMFA). The bill would limit P3 projects to transportation and broadband and make P3s eligible for the Public Project Revolving Fund.
“House Bill 276 creates the Public Private Partnership Fund and Program,” Representative Garrett said in opening remarks. The sponsors said the bill is intended to provide a statutory framework for projects that combine public and private capital, oversight and repayment structures; sponsors described the measure as focused on financial evaluation, cost‑benefit review and a vetting process administered through DFA and NMFA.
The Nut Graf: Sponsors and supporters told the committee the proposal is intentionally limited to transportation and broadband, that NMFA would perform financial reviews, and that the Local Government Division would run applications, rulemaking and administrative processes; proponents said the tool would help rural communities and tribal entities access alternative financing and leverage private investment.
Supporters who spoke included JD Bullington, who said the bill would benefit municipalities and tribal communities; Brent Moore (New Mexico Association of Realtors/American Property Casualty Insurance Association) recommended adding a payment and performance bond requirement; Allison Riley (New Mexico Chamber of Commerce) said the bill would foster economic development; Matthew Swaddis (Western States Carpenters Local 1319) asked sponsors to consider prevailing‑wage language; Danielle Duran (Los Alamos County) described emergency‑response benefits from improved connectivity; and Enrique Nell (Greater Albuquerque Chamber of Commerce) urged a “do pass.”
Committee members discussed procurement‑code exemptions in the bill, administrative capacity at NMFA and DFA to vet applications, how to ensure rural access, and tribal participation. Representative Romero and others emphasized the need for sufficient administrative resources and rulemaking to protect public funds if projects are removed from the procurement code; sponsors said they intended to seek administrative funding and to rely on NMFA financial review and DFA rulemaking.
A roll call followed committee consideration; multiple members registered “yes” in roll call and the chair announced the bill was cleared for further action.
Ending: Sponsors said they will continue refining rule and administrative funding language and will coordinate with stakeholders, NMFA and DFA as the bill moves forward.
