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(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

No Agency Analysis Provided

LFC Files

SUMMARY

Synopsis of Bill

Senate Bill 605 appropriates $60.0 from the general fund to the Local Government Division of the Department of Finance and Administration for the South Valley Small Business Development Center.

Significant Issues

The South Valley Small Business Development Center (SVSBDC) is part of the New Mexico Small Business Development Center Network (NMSBDC). NMSBDC was established in 1989 as a joint project of the Small Business Development Administration, the New Mexico Association of Community Colleges and the State of New Mexico. The U.S. Small Business Administration and the State of New Mexico provide the current funding for the program.

The SVSBDC is located within the South Valley Campus of the Albuquerque Technical-Vocational Institute. In the first quarter of calendar year 2000, the center served a total of 78 businesses. In addition, forty (40), or 51.2 percent, of the businesses served by the SVSBDC were Native American. This is the highest total of Native American businesses served in the entire New Mexico SBDC network for that time period. The appropriation contained in this bill will allow the SVSBDC to have more resources to serve its unique clients.

FISCAL IMPLICATIONS

The appropriation of $60.0 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.

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