SANTA FE ― Last night the House of Representatives passed a bipartisan bill sponsored by Rep. Sarah Maestas Barnes (R-Bernalillo) and Sen. Michael Padilla (D-Bernalillo) to help New Mexico’s resident businesses contract with state agencies.
House Bill 25, or the Resident Business Set-Aside Act, would require state contracting agencies to set-aside thirty-three percent of their contracts for New Mexico’s resident businesses. Businesses would need to meet the eligibility standards for a resident business as defined in the legislation and have a valid resident business or resident contractor certificate issued through the New Mexico Department of Taxation and Revenue.
“As it stands now, hundreds of millions of state dollars are going to out-of-state entities,” Maestas Barnes said. “State government should be more active in keeping more of our dollars in state which would create opportunities for New Mexico businesses. I’m pleased the House endorsed this plan to support our local businesses and help them create jobs here in New Mexico.”
The House approved the bill on a bipartisan vote of 57 to 9. House Bill 25 now moves to the Senate for consideration.