HOUSE BILL 74

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

John A. Heaton

FOR THE ECONOMIC AND RURAL DEVELOPMENT AND

TELECOMMUNICATIONS COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO THE ECONOMIC DEVELOPMENT DEPARTMENT FOR A COMPETITIVE GRANTS PROGRAM IN THREE COMMUNITIES TO DEMONSTRATE ENTERPRISE FACILITATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. APPROPRIATION.--Three hundred thousand dollars ($300,000) is appropriated from the general fund to the economic development department for expenditure in fiscal year 2005 for a competitive grants program in three communities to demonstrate the efficacy of enterprise facilitation. The grants made under this appropriation shall require a fifty percent match from the recipient communities for their eligibility. Any unexpended or unencumbered balance remaining at the end of fiscal year 2005 shall revert to the general fund.