Current through Register Vol. 35, No. 11, June 11, 2024
Section 2.93.1.7 - DEFINITIONSA."Act" means the Opportunity Enterprise Act, Sections 6-34-1 through 6-34-15, NMSA 1978, as the same may be amended and supplemented.B."Application" means a written document made publicly available by the authority and filed with the authority for enterprise assistance for the purpose of evaluating, in consultation with the department, the applicant's qualifications and proposed enterprise development project or projects for types of enterprise assistance which may be provided by the authority under the act.C."Authority" means the New Mexico finance authority.D."Board" means the opportunity enterprise review board created by the Act.E."Bylaws" means the bylaws of the board adopted on August 24, 2022, as amended and supplemented from time to time.F."Department" means the economic development department.G."Economic development opportunities" means the advancement of an environmentally sustainable economic development goal of the state as determined by the authority, in coordination with the department, and includes the creation of jobs, the provision of needed services and commodities to diverse communities across the state and the increase of tax and other revenue collections resulting from the enterprise development project.H."Enterprise assistance" means opportunity enterprise financing, an opportunity enterprise lease or an opportunity enterprise loan.I."Enterprise development project" means the purchase, planning, designing, building, surveying, improving, operating, furnishing, equipping or maintaining of land, buildings or infrastructure to create or expand economic development opportunities within the state.J."Fund" means the opportunity enterprise revolving fund.K."Opportunity enterprise partner" means a domestic corporation, a general partnership, a limited liability company, a limited partnership, a public benefit corporation, a nonprofit entity or other private business entity or combination thereof that the authority determines is or will be engaged in an enterprise that creates or expands economic development opportunities within the state and is eligible for enterprise assistance pursuant to the act.L."Project review committee" means a standing committee, appointed by the chairman of the board from the members of the board pursuant to the bylaws to review proposed enterprise development projects to be recommended for funding from the fund.M."State" means the state of New Mexico.Adopted by New Mexico Register, Volume XXXIV, Issue 08, April 25, 2023, eff. 4/25/2023