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F I S C A L I M P A C T R E P O R T
SPONSOR Altamirano
ORIGINAL DATE
LAST UPDATED
2/06/06
HB
SHORT TITLE Economic Development Technology Maturation
SB 509
ANALYST Earnest
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY06
FY07
$250.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
Senate Bill 509 duplicates House Bill 546.
SOURCES OF INFORMATION
LFC Files
Responses Received From
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
Senate Bill 509 appropriates $250 thousand from the general fund to Economic Development
Department to pay for a technology maturation program.
FISCAL IMPLICATIONS
The appropriation of $250 thousand contained in this bill is a recurring expense to the general
fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall
revert to the general fund.
SIGNIFICANT ISSUES
Technology maturation programs assist businesses finish development of their product before
seeking venture capital investments. Los Alamos National Laboratories runs such a program.