NOTE:  As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used for other purposes.

 

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

 

 

SPONSOR:

Hamilton

 

DATE TYPED:

03/04/03

 

HB

HJM 85/aHGUAC

 

SHORT TITLE:

Veteran-Owned Small Business Growth Plan

 

SB

 

 

 

ANALYST:

Chabot

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

NFI

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

 

LFC Files

 

Responses Received From

Economic Development Department (EDD)

 

Responses Not Received From

New Mexico Veterans’ Service Commission (VSC)

 

SUMMARY

 

     Synopsis of HGUAC Amendment

 

The House Government and Urban Affairs Committee amendment to House Joint Memorial 85 changes the reporting requirement to a “committee of the legislature.”

 

     Synopsis of Original Bill

 

House Joint Memorial 85 resolves that the director of the veterans’ affairs be requested to present to the appropriated committee a plan for veteran-owned small business growth in New Mexico.

 

     Significant Issues

 

EDD states that the plan developed may provide access to federal funding for veteran-owned small business in New Mexico.

 

 

 

TECHNICAL ISSUES

 

The term “veterans’ affairs” refers to the United States Department of Veterans’ Affairs.  The New Mexico Veterans’ Service Commission is the agency that deals with veteran’s issues for the state.  Recommend on page 2, line 4 striking “veterans’ affairs” and inserting “New Mexico veterans’ service commission”. 

 

GAC/prr:njw