SENATE BILL 53
48th legislature - STATE OF NEW MEXICO - second session, 2008
INTRODUCED BY
Carlos R. Cisneros
AN ACT
RELATING TO ECONOMIC DEVELOPMENT; ENACTING THE TECHNOLOGY DEVELOPMENT ACT; CREATING THE TECHNOLOGY DEVELOPMENT AUTHORITY; CREATING A FUND; REPEALING AND ENACTING SECTIONS OF THE NMSA 1978; MAKING APPROPRIATIONS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. SHORT TITLE.--This act may be cited as the "Technology Development Act".
Section 2. DEFINITIONS.--As used in the Technology Development Act:
A. "authority" means the technology development authority;
B. "department" means the economic development department; and
C. "fund" means the technology development fund.
Section 3. TECHNOLOGY DEVELOPMENT AUTHORITY--MEMBERS.--
A. The "technology development authority" is created and is administratively attached to the department.
B. The authority shall consist of the following nine voting members:
(1) the governor's science advisor or the science advisor's designee;
(2) the secretary of economic development or the secretary's designee;
(3) the state investment officer or the officer's designee; and
(4) six members appointed by the governor who shall represent the following:
(a) a research university;
(b) a national laboratory;
(c) the venture capital sector;
(d) two business sectors; and
(e) a research park.
C. The governor shall appoint the chair of the authority from among the members.
D. The authority shall meet at the call of the chair or when four voting members submit a request in writing to the chair, but not less than four times in a calendar year. A majority of members constitutes a quorum for the transaction of business. The affirmative vote of at least a majority of a quorum shall be necessary for an action to be taken by the authority.
E. Each member of the authority appointed by the governor shall be appointed to a two-year term. Vacancies shall be filled by appointment by the governor for the remainder of the unexpired term.
F. Members of the authority appointed by the governor may receive per diem and mileage as provided for nonsalaried public officers in the Per Diem and Mileage Act and shall receive no other compensation, perquisite or allowance.
Section 4. AUTHORITY--DUTIES.--The authority shall:
A. develop a business plan, including metrics for success;
B. define targeted areas for development;
C. develop marketing approaches for targeted areas;
D. administer the fund pursuant to the Technology Development Act;
E. integrate federal and other investments into efforts of the authority;
F. employ an executive director and other personnel as appropriate;
G. set performance standards for management of operations;
H. track progress and accomplishments of funded projects;
I. appoint a technical advisory committee of subject matter experts; and
J. provide quarterly reports to the secretary of economic development.
Section 5. AUTHORITY--POWERS.--The authority may:
A. contract for research and development services;
B. provide funding for technology enterprise development pursuant to the Technology Development Act and the Local Economic Development Act;
C. create initiatives to respond to strategic market opportunities;
D. form partnerships with any combination of public and private organizations, including businesses, universities and national laboratories; and
E. develop, create and commercialize new intellectual property for the state and encourage new opportunities for business and increased jobs. Intellectual property created by an employee or agent of an institution associated with the authority shall be owned by that institution. Intellectual property created jointly shall be owned jointly. If the intellectual property is created using federal funds, the applicable federal laws and regulations shall govern the ownership.
Section 6. TECHNOLOGY DEVELOPMENT FUND--CREATED.--The "technology development fund" is created in the state treasury. The fund shall consist of appropriations and revenues, royalties and license fees from partners, other income from investment of the fund and money otherwise accruing to the fund. All revenue received by the authority from activities conducted pursuant to the Technology Development Act shall be deposited into the fund. Money in the fund shall not revert to any other fund at the end of a fiscal year. The authority shall administer the fund, and money in the fund is appropriated to the authority to carry out the provisions of the Technology Development Act. Money in the fund shall be disbursed on warrants signed by the secretary of finance and administration pursuant to vouchers signed by the executive director of the authority and the secretary of economic development.
Section 7. TEMPORARY PROVISION.--On July 1, 2008:
A. all personnel, appropriations, money, records, equipment, supplies and other property of the technology research collaborative shall be transferred to the technology development authority;
B. all contracts of the technology research collaborative shall be binding and effective on the technology development authority; and
C. all references in law to the technology research collaborative shall be deemed to be references to the technology development authority.
Section 8. APPROPRIATION.--Ten million dollars ($10,000,000) is appropriated from the general fund to the technology development fund for expenditure in fiscal year 2009 and subsequent fiscal years to carry out the provisions of the Technology Development Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.
Section 9. REPEAL.--Section 21-11-8.5 NMSA 1978 (being Laws 2005, Chapter 81, Section 1) is repealed.
Section 10. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2008.
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