Summary:

 House Bill 41 (HB 41) appropriates funds from the Public Project Revolving Fund (PPRF) to the Drinking Water State Revolving Loan Fund, Local Government Planning Fund, and Cultural Affairs Facilities Infrastructure Fund. The bill allocates $6.25 million, $2 million, and $5 million respectively for Fiscal Year 2026 and subsequent years. Unexpended funds will not revert to the (PPRF).

HB 41 is endorsed by the New Mexico Finance Authority Oversight Committee.

 

Legislation Overview:

 House Bill 41 (HB 41) appropriates funds from the Public Project Revolving Fund (PPRF) to enhance public infrastructure and planning initiatives. The appropriations include:

$6.25 million to the Drinking Water State Revolving Loan Fund to provide state matching funds for federal Safe Drinking Water Act projects and other purposes under the Drinking Water State Revolving Loan Fund Act.

$2 million to the Local Government Planning Fund to support local government projects and planning activities.

$5 million to the Cultural Affairs Facilities Infrastructure Fund to finance cultural and historical infrastructure projects.

Unexpended balances from these appropriations will not revert to the PPRF, allowing for extended use across fiscal years. The appropriations take effect in fiscal year 2026. The bill ensures that state and federal matching requirements are met, enabling additional federal funds for safe drinking water projects.

Fiscal impacts include appropriations for public water systems, local planning projects, and cultural infrastructure. The funding aligns with federal opportunities and supports long-term public project investments.

HB 41 is endorsed by the New Mexico Finance Authority Oversight Committee.
 

Current Law:

 Under current law, the Public Project Revolving Fund exists to finance public projects, but specific appropriations to the Drinking Water State Revolving Loan Fund, Local Government Planning Fund, and Cultural Affairs Facilities Infrastructure Fund are not stipulated. Funding for these areas typically relies on separate legislative initiatives or ad hoc appropriations, limiting the scope and sustainability of these funds.