Senator Michael Padilla successfully moved the Senate Tax, Business and Transportation Committee substitute for Senate Bill 169 — the Strategic Economic Development Site Readiness Act — which the Senate passed 37–2 after two floor amendments.

The bill establishes a process to identify and characterize strategic economic development sites, creates a site‑readiness fund (outlined in the current budget at about $24,000,000), and directs creation of a Strategic Economic Development Site Advisory Board composed of state agencies and public members. A floor amendment added language explicitly including Indian nations, tribes and Pueblos among the public partners participating in planning. "We're proposing the enactment of the strategic economic development site readiness act," Padilla told the Senate when explaining the bill on the floor.

Supporters said the measure will help the state respond faster when companies evaluate New Mexico for growth or relocation by ensuring parcels are surveyed for infrastructure, environmental limitations, and access. Padilla described key components as site characterization, a site‑readiness fund, and designation procedures.

Several senators raised questions about conflict‑of‑interest safeguards and local involvement. Senator Celia Lopez pressed the sponsor on whether a committee member could select land they owned and on whether local governments and affected communities would have a guaranteed seat at the table. Padilla said disclosure requirements would apply and that the advisory committee would include representatives from state agencies and five public members appointed by the Legislative Council; he also said he would work with colleagues to expand local participation as needed. Senator Townsend asked how the $24 million would be allocated fairly across the state's 33 counties; Padilla said the new advisory council would establish an application and ranking process.

Senator Padilla moved final passage. The Senate recorded 37 affirmative votes and 2 negative votes (Senator Celia Lopez and Senator Pinto). The Senate journal entry on the floor shows the bill "is twice amended" and has passed the Senate.

The bill now proceeds under legislative process for the next steps beyond the Senate vote. Ending details (timing for implementation or effective dates) were not specified on the floor.