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F I S C A L I M P A C T R E P O R T
SPONSOR Ryan
ORIGINAL DATE
LAST UPDATED
2/12/07
HB
SHORT TITLE
NMIMT Small Business Innovation
Research Outreach
SB 711
ANALYST Leger
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
$250.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates HB 100
SOURCES OF INFORMATION
LFC Files
Responses Received From
Economic Development Department (EDD)
New Mexico Higher Education Department (HED)
SUMMARY
Synopsis of Bill
Senate Bill 711 appropriates $250 thousand from the general fund to the board of regents of New
Mexico institute of mining and technology for the purpose of the small business innovation
research outreach 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 FY08 shall revert to the
general fund.
SIGNIFICANT ISSUES
The HED analysis reports NM Tech did not request the funds as a priority for FY08 and is not
included in HED funding recommendation. According to EDD the university does have a
history of seeking funding for this project.