A JOINT MEMORIAL

REQUESTING THAT THE NEW MEXICO LEGISLATIVE COUNCIL DIRECT THE APPROPRIATE INTERIM LEGISLATIVE COMMITTEE TO EXAMINE MONTANA'S BUSINESS LOAN PROGRAM AND MAKE APPROPRIATE RECOMMENDATIONS FOR LEGISLATIVE ACTION TO THE LEGISLATURE.

     WHEREAS, it is in the public interest for the state of New Mexico to foster economic development within the state and its communities; and

     WHEREAS, the state of Montana has successfully implemented its "link deposit business loan program", funded by proceeds from that state's permanent coal tax fund, to foster economic development in Montana; and

     WHEREAS, aspects of Montana's link deposit business loan program may possibly be adapted for use in New Mexico;

     NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the New Mexico legislative council be requested to direct the appropriate interim legislative committee to examine Montana's link deposit business loan program to determine whether any aspects of that program could be usefully adapted to New Mexico and make recommendations for any appropriate legislative action to the legislature; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the co-chairs of the New Mexico legislative council.