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| SPONSOR: | Lundstrom | DATE TYPED: | 02/22/01 | HB | 714 | ||
| SHORT TITLE: | McKinley Economic Development Group | SB | |||||
| ANALYST: | Woodlee | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY01 | FY02 | FY01 | FY02 | ||
| $ 50.0 | Recurring | General Fund | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
Economic Development Department
SUMMARY
Synopsis of Bill
House Bill 714 appropriates $50.0 from the general fund to the Economic Development Department for the purpose of recruiting new businesses and establishing an economic development group in McKinley County.
Significant Issues
According to the Economic Development Department, there is a group called the Economic Development Foundation located in McKinley County. It is unclear to the agency if the appropriation would support this group or create a new one. The appropriation would add resources to the agency's existing efforts to recruit businesses to New Mexico, specifically McKinley County.
FISCAL IMPLICATIONS
The appropriation of $50.0 contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2002 shall revert to the general fund.
MW/ar