Opportunity Enterprise Fund Bill Passes House Floor


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 by a vote of 38 to 28 early this morning.

The Opportunity Enterprise Fund would be a partnership program established within the New Mexico Finance Authority 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.

“New Mexico is facing a shortage of commercial buildings and space for innovation,” said Representative Meredith Dixon (D-Albuquerque).“By helping us create jobs and attract investment, this bill would help New Mexico diversify our economy and build future revenue streams statewide.”

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.