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Committee approves amended bond authority to replace Gila Regional's linear accelerator
Summary
The committee adopted an amendment extending allowable bond terms from 20 to 30 years and gave HB275 a "do pass" recommendation; witnesses said replacing the hospital's linear accelerator is critical for cancer care in Southwest New Mexico.
What the bill does: House Bill 2 75 authorizes the New Mexico Finance Authority to issue revenue bonds to support capital improvements at Gila Regional Medical Center's cancer treatment center, specifically to replace an aging linear accelerator that is due to reach end of life in May.
Agency rationale and amendment: Marquita Russell, CEO of the New Mexico Finance Authority, told the committee that declining tax distributions in recent years prompted a request to extend the bond repayment term from 20 to 30 years to reduce default risk and ensure sufficient revenue to retire the bonds. She said the program previously managed similar financing and that the 30‑year authority is a prudential response to lower receipts.
Public testimony: Hospital leadership, clinicians and regional advocates testified that Hilo Regional (Gila Regional) is the primary cancer‑care hub for several counties and that patients otherwise would travel two or more hours to larger centers; they urged the committee to approve the financing to preserve local treatment capacity.
Committee action: The committee adopted the NMFA amendment without recorded opposition and then approved a motion for a "do pass" recommendation; HB275, as amended, advanced from committee.
What happens next: With a committee due‑pass recommendation, HB275 will move to the next stage of floor or committee scheduling with the adopted amendment (30‑year repayment term) included.
