December 1, 2020

The Much Needed New Mexico COVID-19 Relief Bill Passed

The New Mexico State Legislature passed a COVID-19 relief bill on November 24, 2020 that was made available through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill is a general appropriations bill, which means that funds will be available immediately. Funding from the bill is expected to provide timely support to residents and businesses and will also provide funds to assist food banks, virus testing, and contact tracing efforts. A total of $100 million in grants will be available. Grants are expected to range up to $50,000, and will be made to small businesses and nonprofits (from sole-proprietorships up to 100 employees). Grant priorities include geographic dispersion as well as to support hospitality and leisure businesses and businesses that are experiencing severe economic impact from the public health orders related to the COVID health emergency. The New Mexico Finance Authority will administer the grants to small businesses and nonprofits through the CARES Continuity Grant program. The guidelines and application are in the process of being created and it is expected that the application will open around December 7. Entities interested in grants to businesses and nonprofits may:

The bill also includes funding that will provide support for residents, food, banks, and the homeless, as follows: 

  • $194 million to provide $1,200 in compensation benefits to individuals who are or were eligible for benefits for unemployment from the federal pandemic unemployment assistance program, pandemic emergency unemployment compensation program, or federal-state extended benefits or trade readjustment allowance program.
  • $5 million to provide assistance of up to $750 per household to low-income state residents who did not previously receive an economic impact payment stemming from the CARES Act. Eligibility for this round of support includes dependents like children and the elderly, as well as immigrants in the country who were not eligible for the federal stimulus payment.
  • $15 million in assistance to contract for services to provide emergency housing assistance and assistance for the homeless.
  • $5 million in assistance to contract for services to provide emergency food bank services in the state.

Deadline: To be determined.

Contact: Wendy McCoy, Resource Development Officer II, wendy@thegrantplantnm.com

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