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| SPONSOR: | Sanchez | DATE TYPED: | 01/27/00 | HB | 264 | ||
| SHORT TITLE: | Business Incubation Services | SB | |||||
| ANALYST: | Woodlee | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY00 | FY01 | FY00 | FY01 | ||
| $ 390.0 | Recurring | General Fund | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates SB 43
SOURCES OF INFORMATION
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
The bill appropriates $390.0 to the Economic Development Department from the general fund for New Mexico technology business incubation services.
Significant Issues
Business incubation services usually provide technical assistance, equipment, office space, etc. to start-up businesses. When the firm grows, they rely less on the service and expand into flourishing businesses that are self-supportive.
FISCAL IMPLICATIONS
The bill appropriates $390.0 from the general fund for expenditure in fiscal year 2001. Any unexpended or unencumbered balance remaining at the end of fiscal year 2001 shall revert to the general fund.
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