HOUSE BILL 381

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

Larry A. Larrañaga

AN ACT

MAKING AN APPROPRIATION TO ENCOURAGE BUSINESS DEVELOPMENT IN SOUTHEAST ALBUQUERQUE.

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

     Section 1. APPROPRIATION.--Two hundred thousand dollars ($200,000) is appropriated from the general fund to the economic development department for expenditure in fiscal year 2006 for the purpose of contracting for support and expansion of business incubation services in southeast Albuquerque, including program development, operating costs, outreach to diverse clientele, development of evaluation tools and methods to ensure accountability for business incubators statewide. Any unexpended or unencumbered balance remaining at the end of fiscal year 2006 shall revert to the general fund.

.153107.1