I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
A bill that would give local banks and credit unions preference over national banks for holding the state’s money cleared the Senate Finance Committee unanimously Monday, sponsor Rep. Brian Egolf announced on his Facebook page. It is now headed to the Senate floor. If the bill clears the Senate floor, it will head to Governor Bill Richardson’s desk for his approval.
Egolf wrote:
Tonight the Senate Finance Committee unanimously passed the bill that moves New Mexico’s money to community banks and credit unions based in New Mexico. The bill now goes to the floor of the Senate where it will await final action. One more step to go before the bill gets sent to the Governor!
The bill gained national attention from the Huffington Post when it cleared the House on a unanimous vote.
HB 66, State Funds in Community Banks, would “give preferential treatment to New Mexico community banks when bidding for the state fiscal agent contract by requiring the Department of Finance and Administration (DFA) to multiply the lowest bidding community bank’s bid price ‘by a factor of .9.’” according to the fiscal impact report.
The Huffington Post reported that the increased liquidity in local banks or credit unions could help the banks provide loans to local businesses.
