Opportunity Enterprise Fund Bill Passes First Committee


House Bill 7, the Enterprise Opportunity Fund, which would expand  the availability of commercial building spaces for meaningful economic development in communities across New Mexico, passed the House Consumer and Economic Development Committee with a unanimous vote today.

The Opportunity Enterprise Fund (OEF) would be a partnership program established within the New Mexico Finance Authority (NMFA) to enhance the ability of local communities to fund and construct commercial buildings that will directly support their economic development initiatives. Frequently, communities need commercial space—such as industrial parks or maker-spaces—to entice businesses and jobs.

“This program will help us diversify our economy and build future revenue streams all across New Mexico,” said Representative Meredith Dixon (D- Albuquerque). 

The bill was sponsored by Representative Dixon, Representative Linda Serrato (D-Santa Fe) and Speaker Brian Egolf (D- Santa Fe). It now heads to the Appropriations and Finance Committee.