Business bankruptcy filings down in NM

Business bankruptcies in New Mexico are down as the state continues to recover from the recession.

 A federal court report says there were 182 business-related petitions filed in U.S. Bankruptcy Court in New Mexico in 2012. That's the lowest number of petitions filed in the state since 2007 and down from 203 in 2011. The recent high was 302 petitions filed in 2009. 

According to the Albuquerque Journal, many of the petitions cited in the report are filed by individuals who are small business owners.

Business bankruptcy filings down in NM

Lawmakers introduce memorial to study marijuana revenue

A joint memorial resolution introduced in the state Senate on Thursday calls for a study that would look into the financial implications that would occur if the state started taxing and regulating marijuana like it does tobacco and alcohol. 

And at least one study by a Harvard professor estimates that the state could make up to $21 million a year in new revenue, while saving another $33 million on the enforcement side. 

Senate Joint Memorial 31, introduced by Senator Jerry Ortiz y Pino would call for the state Economic and Development to form a workgroup to study how much revenue that taxing marijuana would generate as well as save. 

The study’s results would then be presented to the Legislature in 2014.

Lawmakers introduce memorial to study marijuana revenue

House approves spaceport legislation

The House has unanimously approved a proposal to help New Mexico develop a commercial space travel industry.  

The measure approved Thursday will limit the liability of spacecraft manufacturers and their suppliers. 

A separate but identical bill has passed the Senate, and Republican Gov. Susana Martinez backs the proposal. 

British billionaire Richard Branson's Virgin Galactic plans to fly tourists into space from New Mexico's more than $200 million spaceport. 

The legislation will extend liability limitations to suppliers and manufacturers of spacecraft and their components.

House approves spaceport legislation

Newsbreak New Mexico 5 p.m. Webcast 2/7/13

Newsbreak New Mexico 5 p.m. Newscast with Vanessa Dabovich

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No layoffs for Sandia Labs
Medical Board looking at late term abortion case
Tyrone Watson arrested 

Newsbreak New Mexico 5 p.m. Webcast 2/7/13

NM chile crops stabilizing

New Mexico's chile crop acreage has increased in the past two years since it hit a nearly 40-year low in 2010. 

Experts speaking at the state's annual chile conference held Tuesday in Las Cruces reported that 9,600 acres were harvested in 2012. That's a slight increase from 2011. 

New Mexico's acreage dropped from over 12,000 in 2009 to under 9,000 in 2010. Acreage was over 20,000 as recently as 1998. 

New Mexico Chile Association President Dino Cervantes says acreage is now stabilizing. That's despite continuing challenges from foreign competitors, plant-killing diseases and irrigation water shortages.

NM chile crops stabilizing

Newsbreak New Mexico 12 p.m. Webcast 2/7/13

Newsbreak New Mexico 12 p.m. Newscast with Vanessa Dabovich

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Tyrone Watson arrested
House approves ban on welfare cards in bars
Sup. court rules former UNM pres. website not illegal

Newsbreak New Mexico 12 p.m. Webcast 2/7/13

Santa Fe working on domestic partner benefits

A proposal being developed by Santa Fe officials would require contractors doing work for the city to provide their employees with domestic partner benefits.  

The Albuquerque Journal says it has yet to be determined how the requirement being proposed by Councilor Patti Bushee would work. 

City Attorney Geno Zamora says his office is working with Bushee to prepare an ordinance for consideration by the City Council. 

Bushee calls her proposal the answer to an equity issue for gays and lesbians as well as anybody who chooses not to marry.

Santa Fe working on domestic partner benefits

House takes up Spaceport liability bill

Lawmakers are trying to finish work on a proposal that supporters say will help New Mexico develop a commercial space travel industry. 

The House is expected to consider a bill today to limit the liability of spacecraft manufacturers and their suppliers. An identical measure has passed the Senate and Republican Gov. Susana Martinez backs the proposal. 

Virgin Galactic plans to fly tourists into space from New Mexico's spaceport and a 2010 law protects it, as a space travel operator, from being sued in most cases by passengers or their families if there is an accident during a flight. 

The legislation will extend liability limitations to suppliers and manufacturers of spacecraft and their components.

House takes up Spaceport liability bill

Newsbreak New Mexico 8 a.m. Webcast 2/7/13

Newsbreak New Mexico 8 a.m. Newscast with Vanessa Dabovich

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House takes up Spaceport bill
Santa Fe working on domestic partner benefits
NM chile crops stabilizing 

Newsbreak New Mexico 8 a.m. Webcast 2/7/13

Legalizing, taxing marijuana could create $100M in revenue, NM senator says

From KOAT-TV.com - We're foolish to keep trying to spend all this public money stopping it when we could be regulating it, making sure it wasn't abused, and also using it as a way of gaining revenue," Sen. Gerald Ortiz y Pino said. 

Pino is writing a memorial that would direct a committee to research the impacts of legalizing marijuana.

He said he wants to find out what its effects would be on revenue, crime and long-term consequences. If that research comes back positive, then he'll propose a constitutional amendment, which would allow voters to decide whether pot should be legal.

Other lawmakers said they already know how they would vote if it comes to that. "We're going too fast. We haven't implemented medical marijuana in our state, and to legalize it is too fast; too quick for me," Sen. John Ryan said. Read more

Legalizing, taxing marijuana could create $100M in revenue, NM senator says