Senate Bill 383, which contains an emergency clause making it effective immediately, allows municipalities to issue flood recovery revenue bonds to rebuild, repair, replace and harden municipal property damaged by floods. The legislation creates a municipal flood recovery gross receipts tax to finance these bonds.

Senate Bill 197 authorizes the state treasurer to redirect money from the Emergency Medical Services Fund to the New Mexico Finance Authority for loans to purchase equipment for emergency medical services system improvement projects.

“These bills provide critical tools for our municipalities to recover from devastating floods and strengthen our emergency medical services across the state,” said Gov. Lujan Grisham.