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





SPONSOR: Aragon DATE TYPED: 02/14/01 HB
SHORT TITLE: Establish E-Commerce Initiative SB 437
ANALYST: Woodlee


APPROPRIATION



Appropriation Contained
Estimated Additional Impact
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

LFC Files



SUMMARY



Synopsis of Bill



Senate Bill 437 appropriates $50.0 from the general fund to the Economic Development Department for the purpose of establishing an e-commerce initiative that provides access to New Mexico companies by developing a website template for on-line marketing, in conjunction with existing wholesale trade promotion, to increase sales and visibility of New Mexico products.



Significant Issues



The Economic Development Department currently maintains a website that offers businesses information and assistance about doing business in New Mexico. The agency indicates that they would contract with an entity to create a submittal template with which New Mexico companies would submit information regarding their business. This information would be posted on the department's website and/or a separate website dedicated for this purpose. The EDD explains that they would model their site after the New Mexico Department of Agriculture site, found at nmdaweb.nmsu.edu. This site offers the visitor categories of food producers and links to those businesses and the products.





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/njw