All Roll Calls
Yes: 86 • No: 7
New MexicoHB 202025 Regular SessionHouseWALLET
TECHNOLOGY & INNOVATION DIVISION
Sponsored By: Meredith A. Dixon (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 1 benefits, 0 costs, 4 mixed.
Million-dollar business prizes carry job commitments
Beginning July 1, 2025, New Mexico offers technology business prizes: at least $5 million for first place and $1 million each for the next two recipients. The advisory board can approve additional amounts. Eligible businesses must register in New Mexico and have, or commit to establishing, a substantial presence there. Eligible fields include clean energy and water, aerospace and space, advanced computing, biosciences, and other board-approved sectors. International applicants also need a contract with a New Mexico-based partner. Before payment, winners must sign contracts to maintain operations, a substantial state presence, and the required number of state jobs for at least three years. They must also participate in in-state science, technology, engineering, and math education. Winners who fail a statutory requirement must repay the prize with fair current market interest.
New state hub supports technology businesses
Beginning July 1, 2025, New Mexico creates a Technology and Innovation Division within its Economic Development Department. It brings together existing technology and entrepreneurship offices, supports grant applications, and helps turn research into marketable products. Its focus includes aerospace, biosciences, clean energy and water, and advanced computing, including artificial intelligence, quantum computing, and cybersecurity. A new advisory board guides strategy, sector priorities, and project awards, with an executive committee and sector subcommittees. Appointed members' staggered four-year terms begin September 1, 2025. Public members receive per diem and mileage, but no other pay. Annual reports track awards, outside funding, jobs, and returns on state spending, with the first due December 1, 2025. A new Technology and Innovation Fund replaces the Technology Enterprise Fund and receives its remaining money. Unspent balances stay in the new fund; spending requires legislative approval.
Business privacy limits public access
Beginning July 1, 2025, the division keeps technical or business information private when its director deems it proprietary. That information is not a public record and is not open to inspection. Commission meetings must close when that information is discussed. This protects those sharing business information but limits public access to records and discussions.
Flexible project grants retain matching limits
Beginning July 1, 2025, project awards prioritize high-wage New Mexico jobs, stronger nonpublic matching funds, and technology with strong market potential. Priorities also include New Mexico companies, rural or tribal benefits, and broad regional participation. Applicants must secure matching support from non-state sources or partners. The division can cut the required match by up to 50% for projects primarily benefiting rural or tribal communities. Projects led by minority-serving public colleges, or addressing critical needs in the state's economic plan, also qualify for that option. In-kind support, such as donated services, can cover no more than 50% of the applicant's match. It must be essential, independently verifiable, and a legitimate project expense. Awards must allow multiyear projects aligned with outside funding schedules and some necessary administrative costs. Necessary spending before an award is allowed to meet outside grant deadlines, using non-state or institutional money.
New project funding with eligibility limits
Beginning July 1, 2025, a new Research, Development and Deployment Fund provides early-stage capital and project support. Unspent money stays in the fund, which supports projects tied to the state's economic development plan. Applicants must be public entities or New Mexico-registered businesses. Projects must advance at least two state goals: technology innovation, collaboration, outside investment, economic opportunities, jobs and training, or bringing technology to market. Applications need budgets, support or commitment letters, funding and spending timelines, and applicable partnership and matching-fund records. Public entities also need a project partner outside their control. Applications can arrive up to 365 days before expected federal or private grant deadlines; qualifying pending or contingent awards are also eligible. Applications within 90 days after a multistage award is finalized need department approval. Applicants can also respond to state solicitations or reapply after improving a denied application based on feedback. Awards are not limited to public colleges or research alone.
Sponsors & Cosponsors
Sponsor
Meredith A. Dixon
Democratic • House
Cosponsors
Cristina Parajón
Democratic • House
Doreen Y. Gallegos
Democratic • House
Joshua N. Hernandez
Republican • House
Joy Garratt
Democratic • House
Nathan P. Small
Democratic • House
Rebecca Dow
Republican • House
Roll Call Votes
Senate vote • 3/22/2025
Final Senate Vote
Yes: 32 • No: 4
House vote • 3/3/2025
Final House Vote
Yes: 54 • No: 3
Actions Timeline
Signed by Governor - Chapter 133 - Apr. 9
4/9/2025SenatePassed in the Senate - Y:32 N:4
3/22/2025SenateWithdrawn from committee or daily calendar for subsequent action
3/21/2025legislatureSTBTC: Reported by committee with Do Pass recommendation
3/18/2025SenateSent to STBTC - Referrals: STBTC/SFC
3/3/2025SenatePassed in the House of Representatives - Y:54 N:3
3/3/2025HouseHouse of Representatives Floor Amendment
3/3/2025HouseHAFC: Reported by committee with Do Pass recommendation with amendment(s)
2/27/2025HouseHCEDC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution
2/19/2025HouseSent to HCEDC - Referrals: HCEDC/HAFC
2/10/2025Senate
Bill Text
Final Version
4/10/2025
STBTC Committee Report 3/18/25
3/18/2025
House Floor Amendment 1 3/03/25
3/3/2025
HAFC Committee Report 2/27/25
2/27/2025
HCEDC Committee Report 2/19/25
2/19/2025
HCEDC Committee Substitute 2/19/25
2/19/2025
Introduced
2/10/2025