January 28, 2021

FOR IMMEDIATE RELEASE

DATE:  Thursday, January 28, 2021

Contact: Chris Nordstrum

Email: chris.nordstrum@nmlegis.gov

Phone: 415.601.1992

More Economic Recovery Bills to be Heard in Senate Committee Today

Bills aim to assist small businesses, restaurant industry

Santa Fe, N.M. – Today, a second round of bills aimed at helping New Mexico small businesses hit by the COVID-19 pandemic will be heard in the Senate Tax, Business & Transportation Committee.

Senate Bill 3 (Sponsored by Senator Jacob Candelaria) would amend and extend the Small Business Recovery Act, legislation passed in the June 2020 Special Session establishing a new loan program to assist small businesses during the pandemic. The new measure extends the timeframe of the loan program and offers even more favorable terms than the original plan. Loan periods could be up to 30 years, and no interest would be payable for the first three years. The potential size of loan amounts would increase, and loans could be used to make business improvements including those necessary due to the COVID-19 pandemic as well as other non COVID-related improvements to help grow a business’s e-commerce and sales capacity.

“The Small Business Recovery Act has served as an important recovery tool for New Mexico businesses, but we’re not out of the woods yet,” said Senator Candelaria (D-Albuquerque). “The changes we’ve proposed in SB3 will make the program more accessible, with more favorable terms, for a longer period of time. It’s important to me that our small business owners have options as they seek help keeping their business engines running. This successful program, if continued, will help keep stores open, businesses afloat, and New Mexicans employed.”

Senate Bill 6 (Sponsored by Senator Peter Wirth) would amend sections of the Liquor Control Act to permit delivery of alcoholic beverages to homes, and add a new type of license that allows the sale of certain alcoholic beverages in restaurants. Home delivery of alcohol is currently not allowed and has hindered many restaurants from tapping an important revenue source as they transitioned to take-out services being a primary business model due to the COVID-19 pandemic.

“Recovery. Recovery. Recovery. You will be hearing this theme repeatedly throughout this session. Senate Bill 6 will help one sector hit particularly hard in the last year – our restaurants and bars,” said bill sponsor Senate Majority Leader Peter Wirth (D-Santa Fe). “By providing a new revenue stream to restaurants and expanding our liquor license options, our favorite food establishments will be able to add to their bottom line while patrons can stay safe at home and enjoy a beer with their take-out enchiladas.”

Due to health and safety concerns, session committee meetings will be held virtually and can be viewed at nmlegis.gov (under “Webcast”). Committee Schedules are posted under the “What’s Happening” tab.

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