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

 

 

 

SPONSOR:

Ponce

 

DATE TYPED:

2/10/03

 

HB

HJM 41

 

SHORT TITLE:

Timely Business Licensing

 

SB

 

 

 

ANALYST:

Maloy

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

 

 

Minimal

 

 

 

SOURCES OF INFORMATION

 

Responses Received From

Environment Department, Office of General Counsel

Economic Development

 

SUMMARY

 

Synopsis of Bill

 

House Joint Memorial 41 directs the Public Regulatory Commission (PRC) and the Regulation and Licensing Department (RLD) to reexamine their procedures for the oversight, licensing and regulation of businesses.

 

Significant Issues

 

This memorial requests these two departments reexamine their procedures in light of the following considerations:

 

1.                  New Mexico needs to attract more businesses and capital to enhance its economic development.

 

2.                  Government should facilitate the expansion of New Mexico’s existing businesses and provide incentives for new business and industry growth.

 

3.                  Existing jobs need to be preserved, and with New Mexico’s growing population more jobs need to be created.

 

 

4.                  Diversification of business and industry should be encouraged.  This protects against drastic changes in the state’s economy.

 

5.                  Healthy businesses need timely and efficient government oversight.

 

6.                  The complexity of current licensing procedures slows expansion and growth.

 

7.                  State agencies and commissions that regulate business and industry should streamline their procedures to shorten the time it takes for businesses to get started  in New Mexico.

 

FISCAL IMPLICATIONS

 

There will be minimal fiscal and administrative impact on the PRC and RLD due to staff and time resources needed to conduct this study.

 

OTHER SUBSTANTIVE ISSUES

 

While simplifying the government licensing and oversight involvement, the state must balance the needs of consumers who stand to be harmed if the regulation is inadequate.

 

POSSIBLE QUESTIONS

 

This memorial really focuses on the “licensing” issues.  There are likely other government barriers that come into play. Therefore, should other agencies, such as the Secretary of State, Economic Development, Tourism and Taxation and Revenue, participate in a more comprehensive review of business and industry growth and expansion?

 

SJM/njw:prr