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(Parenthesis ( ) Indicate Expenditure Decreases)

Relates to SB93

SOURCES OF INFORMATION

New Mexico Department of Agriculture (NMDA)

SUMMARY

Synopsis of HAGC Amendment

This amendment changes the reversion year of the appropriation from 2000 to 2001, a technical correction to the original bill.

Synopsis of Bill

This bill appropriates $50.0 from the general fund to the Board of Regents of the New Mexico State University for the purpose of the NMDA to develop E-commerce for assistance of small agricultural producers to market their products on the Internet.

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 FY00 shall revert to the general fund.

CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP

This bill relates to Senate Bill 93.

TECHNICAL ISSUES

This bill reverts an appropriation made for FY01 during the 2000 fiscal year. It should be amended to reflect the following correction: line 22, change "fiscal year 2000" to "fiscal year 2001."

OTHER SUBSTANTIVE ISSUES

According to the NMDA, E-commerce in 1999 generated $13 million in revenue (estimated to grow to $1 trillion in 2000), the average shopper spent $1,222 and 60% of these spent over $500. It is the fastest growing market and New Mexico's small agricultural producers should be able to market their products in this world wide shopping center.

APP/gm