New Mexico Governor Authorizes Expanded Business Loan Program, Tax Relief, $600 Rebate For Individuals
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4:54 pm
Gov. Michelle Lujan Grisham today signs a pair of economic measures that will deliver additional stimulus and relief for businesses and individuals across New Mexico. Courtesy photo
From the Office of the Governor:
SANTA FE – Gov. Michelle Lujan Grisham on Wednesday signed Senate Bill 1 and Senate Bill 3 into law, a pair of economic measures that earned broad bipartisan support in the Legislature and will deliver additional stimulus and relief for businesses and individuals across New Mexico.
In addition to legislation the governor has already signed into law that will provide for $200 million in small business grants, the economic relief measures signed Wednesday will deliver a $600 personal income tax rebate to hundreds of thousands of front-line and low-wage workers, provide for a four-month tax holiday for food and beverage businesses hit especially hard by the economic effects of the pandemic, and make up to $500 million available to New Mexico small businesses seeking loans at a discounted borrowing rate.