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F I S C A L I M P A C T R E P O R T





SPONSOR: Maes DATE TYPED: 01/27/00 HB
SHORT TITLE: Technology Business Incubation Service SB 43
ANALYST: Woodlee


APPROPRIATION



Appropriation Contained
Estimated Additional Impact
Recurring

or Non-Rec

Fund

Affected

FY00 FY01 FY00 FY01
$ 390.0 Recurring General Fund



(Parenthesis ( ) Indicate Expenditure Decreases)



Duplicates HB 264



SOURCES OF INFORMATION



Economic Development Department (EDD)



SUMMARY



Synopsis of Bill



The bill appropriates $390.0 in general fund 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. This bill focuses on technology businesses.

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.



MW/gm