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F I S C A L I M P A C T R E P O R T
SPONSOR Taylor
ORIGINAL DATE
LAST UPDATED
2/03/06
HB
SHORT TITLE NM Technology Customer Identification
SB 596
ANALYST Earnest
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY06
FY07
$150.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Not Received From
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
SB 596 appropriates $150 thousand from the general fund to the Economic Development De-
partment to contract with a non-profit foundation to identify customers for New Mexico’s tech-
nology products.
FISCAL IMPLICATIONS
The appropriation of $150 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
The appropriation would assist NextGen of Albuquerque in promoting the development a high-
tech cluster economy in the state.
EDD indicates that identifying national customers for technology products developed or manu-
factured in New Mexico would boost the state’s economy.