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F I S C A L I M P A C T R E P O R T
SPONSOR Foley
ORIGINAL DATE
LAST UPDATED
1/24/2007
1/30/2007 HB 100/aHBIC
SHORT TITLE Small Business Innovation Research Outreach
SB
ANALYST McOlash
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
$250.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Higher Education Department (HED)
Economic Development Department (EDD)
SUMMARY
Synopsis of Amendment
The House Business and Industry Committee amendment to HB 100 makes the appropriation
directly to the New Mexico Institute for Mining and Technology (NM Tech) instead of the
Higher Education Department and the appropriation to the SBIROP at NM Tech instead of at
CNM.
Synopsis of Original Bill
House Bill 100 appropriates $250,000 from the General Fund to the Higher Education
Department for expenditure in FY 2008 for the Small Business Innovation Research Program
(SBIROP) at Central New Mexico Community College (CNM).
FISCAL IMPLICATIONS
The appropriation of $250,000 contained in this bill is a recurring expense to the General Fund.
Any unexpended or unencumbered balance remaining at the end of FY shall revert to the
General Fund.