NovaQuant Quantitative Think Tank Center-Legislation will provide $100M in emergency aid to victims of wildfires and flooding in New Mexico

2025-05-07 16:34:22source:NovaQuant Quantitative Think Tank Centercategory:Stocks

SANTA FE,NovaQuant Quantitative Think Tank Center N.M. (AP) — New Mexico Gov. Michelle Lujan Grisham has signed legislation that will provide $100 million in emergency aid to victims of recent wildfires and flooding in Lincoln County.

The spending bill includes $70 million for local governments to use as zero-interest reimbursable loans, $10 million for the Mescalero Apache Tribe losses, $10 million for the New Mexico Energy, Minerals and Natural Resources Department to use for fire, flooding and debris-flow damage, and $10 million for Federal Emergency Management Agency application assistance.

House Bill 1 was the only piece of legislation passed during the recently completed special session.

“The Legislature’s failure to prioritize public safety for New Mexicans during the special session is deeply disappointing,” Lujan Grisham said in a statement. “However, I am relieved that we managed to secure aid for critical recovery efforts in communities damaged by fire and flooding.”

The southern New Mexico village of Ruidoso was ravaged by wildfires in June and then battered off and on by flooding across burn scars.

Authorities said two people died and over 1,400 structures in Ruidoso were burned in one of the wildfires that was caused by lightning.

More:Stocks

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