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F I S C A L I M P A C T R E P O R T
SPONSOR Campos
DATE TYPED 03-07-05 HB
SHORT TITLE Examine Montana’s Business Loan Program
SB SJM73
ANALYST Woods
APPROPRIATION
Appropriation Contained Estimated Additional Impact Recurring
or Non-Rec
Fund
Affected
FY05
FY06
FY05
FY06
NFI
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
New Mexico Economic Development Department
SUMMARY
Synopsis of Bill
Senate Joint Memorial 73 – Requesting that the New Mexico Legislative Council Direct the Ap-
propriate Interim Legislative Committee to Examine Montana’s Business Loan Program and
Make Appropriate Recommendations for Legislative Action to the Legislature – observes that:
•
it is in the public interest for the state of New Mexico to foster economic devel-
opment within the state and its communities;
•
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
•
aspects of Montana’s link deposit business loan program may possibly be
adapted for use in New Mexico.
The memorial resolves that the New Mexico Legislative Council be requested to direct the ap-
propriate interim legislative committee to examine Montana’s link deposit business loan program