SANTA FE, N.M. (AP) — The state Supreme Court halted all housing evictions for failure to pay rent as state investment authorities agreed to offer $100 million in recovery loans to struggling businesses amid economic turmoil from the coronavirus pandemic.
The investment council overseen by New Mexico Gov. Michelle Lujan Grisham controls a $24 billion portfolio of investments that support public education.
On Tuesday, it voted unanimously to channel assets from the state's Severance Tax Permanent Fund to provide emergency recovery loans.
New Mexico is prohibiting most gatherings of more than five people as it shut down a variety of nonessential businesses.