HOUSING STUDY REQUIREMENT FOR LEDA FUNDS

HB 135 requires businesses or organizations seeking public funding for economic development projects to conduct a housing study before applying for support under New Mexico's Local Economic Development Act. The study must estimate housing demand created by new full-time jobs expected from the project, such as those in manufacturing, retail, or cultural facilities. This requirement applies to projects that would generate new jobs in sectors covered by the act, including manufacturing, retail, and cultural facilities. The bill amends the application process to include this housing analysis as a mandatory step before public funds are approved.