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SPONSOR: |
Maes |
DATE TYPED: |
|
HB |
|
||
SHORT TITLE: |
Encourage Business Development in NM |
SB |
270 |
||||
|
ANALYST: |
Collard |
|||||
APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
||
FY03 |
FY04 |
FY03 |
FY04 |
|
|
|
$1,500.0 |
|
$50.0 |
Recurring |
General
Fund |
|
|
|
|
|
|
(Parenthesis
( ) Indicate Expenditure Decreases)
Relates to House Bill 133 and Senate Bill 271
Duplicates House Bill 134
Responses
Received From
Economic
Development Department
SUMMARY
Synopsis
of Bill
Senate Bill 270
appropriates $1,500.0 from the general fund to the Economic Development Department
for the purpose of initiating and administering a statewide business incubator
program.
Significant
Issues
The statewide business incubator program
includes:
·
Developing and implementing a pilot
program to identify five projects in FY04;
·
Providing professional services contracts
for operating business incubators to support program activities and operations;
and
·
Working with existing incubators,
proponents, and interested communities statewide
FISCAL IMPLICATIONS
The appropriation of
$1,500.0 contained in this bill is a recurring expense to the general fund. Any
unexpended or unencumbered balance remaining at the end of FY04 shall revert to
the general fund.
The Economic
Development Department is concerned that there are not monies attached to the
bill for administrative costs. The
administration of this work could require one additional FTE at a cost of
$50.0.
ADMINISTRATIVE IMPLICATIONS
The Economic
Development Department indicates it does not have the staff to administer this
program and an additional FTE will be needed for administration and evaluation
of the contracts.
CONFLICT, DUPLICATION, COMPANIONSHIP,
RELATIONSHIP
Senate Bill 270
relates to House Bill 133 and Senate Bill 271 because the bills all promote business
incubators in the state. Senate Bill 270
duplicates House Bill 134.
POSSIBLE QUESTIONS