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F I S C A L I M P A C T R E P O R T

SPONSOR Lujan, B

ORIGINAL DATE

LAST UPDATED

2/15/2007

HB 1094

SHORT TITLE

NM TECH ELECTRONIC MARKETING DATABASE

SB

ANALYST Moser

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY07

FY08

$300.0

Non-Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

NM Department of Higher Education (HED)

Public Education Department (PED)

SUMMARY

Synopsis of Bill

House Bill 1094 appropriates $300,000 from the General Fund to the Board of Regents of New

Mexico Institute of Mining and Technology (NMIMT) for expenditure in FY08 to implement an

electronic marketing database.

FISCAL IMPLICATIONS

The appropriation of $300,000 contained in this bill is a non-recurring expense to the general

fund. Any unexpended or unencumbered balance remaining at the end of FY08 shall revert to the

general fund.

$250,000 in funding was requested by the NMIMT in FY07. NMIMT was the fiscal agent for

funding in FY04 and the University of New Mexico Continuing Education was the fiscal agent

in FY05.

House Bill 1094 – Page

2

SIGNIFICANT ISSUES

HB1094 provides funding to NMIMT as a fiscal agent for funding to recruit additional New

Mexico businesses to the electronic marketing database called eMercadoNM. The mission of

eMercadoNM is to provide and promote a web-based business development program and

marketplace that retains, attracts, and motivates increased sales for New Mexico business.

Some of the business partners for eMercadoNM include the Albuquerque Hispano Chamber of

Commerce, Sandia National Laboratories, NMIMT, New Mexico Department of Labor, New

Mexico Small Business Development Centers around the state, Small Business Administration,

and many others.

This request was not submitted by NMIMT to the New Mexico Higher Education Department

for review and is not included in the Department’s funding recommendation for FY08.

GM/mt