1. As used in the Trade Ports Development Act:
2. A. "private partner" means an individual, a foreign or domestic corporation, a general partnership, a limited liability company, a limited partnership, a joint venture, a business trust, a public benefit corporation, a nonprofit entity or other private business entity or combination thereof;
3. B. "public partner" means the state and its branches, agencies, departments, boards, instrumentalities or institutions and all political subdivisions of the state and their agencies, instrumentalities and institutions, including a department, an agency, an institution of higher education, a board or a commission;
4. C. "public-private partnership" means an arrangement between one or more public partners and one or more private partners for the development of a trade port project pursuant to the Trade Ports Development Act;
5. D. "public-private partnership agreement" means a contract between one or more public partners and one or more private partners in connection with the development of a trade port project;
6. E. "secretary" means the secretary of economic development;
7. F. "trade port" means a multimodal system of facilities and services in a given location with the logistical capacity to efficiently manage cargo and enhance national supply chain resiliency by facilitating the movement and redistribution of goods and commodities to other locations;
8. G. "trade port district" means a distinct geographic area subject to the approval of the secretary pursuant to Subsection B of Section 7 [9-15F-7 NMSA 1978] of the Trade Ports Development Act within which proposed trade port projects may be approved for grants or loans; and
9. H. "trade port project" means a project subject to the approval of the secretary pursuant to Subsection C of Section 7 of the Trade Ports Development Act creating or modifying infrastructure for the construction of buildings or other facilities that support the functions of a trade port within an approved trade port district.

History: Laws 2025, ch. 86, § 2.

ANNOTATIONS

Effective dates. — Laws 2025, ch. 86, § 15 made Laws 2025, ch. 86, effective July 1, 2025.