The House of Representatives in the State of New Mexico has recently approved the bill that would allow government partnerships with private companies to finance and build state-owned facilities.

House Bill 286 with sponsors from both political parties has received 64-0 votes. Once enacted, the bill allows any government agency in the state to enter into a long-term agreement with a private entity to finance and build road and broadband infrastructure. The partnerships would be set up under the New Mexico Finance Authority. Private entities that are interested to bid for a particular project must provide: cost-benefit analysis, budget proposal, and take part in public hearings to solicit feedback from community members affected by the projects. The project must be at least five years to complete to qualify under the bill. 

The bill proceeds now to the Senate for consideration. Although the bill has no appropriation, the Legislative Finance Committee recommends setting aside US$40 million for a startup fund.