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