SENATE BILL 529

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

INTRODUCED BY

John Arthur Smith

AN ACT

RELATING TO ECONOMIC DEVELOPMENT; MAKING AN APPROPRIATION FOR A PILOT PROJECT TO ESTABLISH AND MAINTAIN A COMMUNITY ECONOMIC DEVELOPMENT OFFICE IN LORDSBURG.

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

     Section 1. APPROPRIATION.--Two hundred twenty-five thousand dollars ($225,000) is appropriated from the general fund to the economic development department for expenditure in fiscal years 2005 through 2007 for a pilot project to establish and maintain a community economic development office in Lordsburg. In order to carry out the purpose of the appropriation, the department shall contract with a nonprofit community development organization that has as one of its main purposes to provide employment opportunities to the residents, including low-income persons, of the area. Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall revert to the general fund.

- 2 -