HOUSE BILL 225

52nd legislature - STATE OF NEW MEXICO - first session, 2015

INTRODUCED BY

Stephanie Maez

AN ACT

RELATING TO ECONOMIC DEVELOPMENT; CREATING THE INNOVATION AND ENTREPRENEURSHIP COMMISSION; PROVIDING DUTIES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. [NEW MATERIAL] INNOVATION AND ENTREPRENEURSHIP COMMISSION CREATED--MEMBERSHIP--DUTIES.--

          A. The "innovation and entrepreneurship commission" is created, is administratively attached to the economic development department and shall be composed of eleven members as follows:

                (1) the speaker of the house of representatives shall appoint two members;

                (2) the president pro tempore of the senate shall appoint two members;

                (3) the governor shall appoint four members; and

                (4) the presidents of the university of New Mexico, New Mexico state university and New Mexico institute of mining and technology shall each appoint one member.

          B. Of the eleven commission members:

                (1) two members shall be representatives of the national laboratories located in the state;

                (2) two members shall be representatives of higher education;

                (3) three members shall be business owners; and

                (4) four members shall be public members.

          C. No more than six members shall be from the same major political party.     

          D. The commission shall:

                (1) select a member to serve as chair of the commission;

                (2) select members to serve as officers of the commission, as necessary;

                (3) identify and develop partnership opportunities among the state's two- and four-year institutions of higher education, the national laboratories in the state and small resident businesses;

                (4) work to improve access to capital for growing small resident businesses that focus on technology research and development; and

                (5) prepare and, by October 1 of each year, submit to the appropriate legislative interim committee, the governor and the presidents of the university of New Mexico, New Mexico state university and New Mexico institute of mining and technology an annual report that includes:

                     (a) a summary of the commission's work during the year preceding submission of the report; and

                     (b) policy and appropriation recommendations related to the commission's work pursuant to Paragraphs (3) and (4) of this subsection. 

          E. Members of the commission shall serve without compensation, but shall be reimbursed for per diem and mileage according to the provisions of the Per Diem and Mileage Act that apply to nonsalaried public officers, unless a different provision of that act applies to a specific member, in which case that member shall be paid pursuant to the applicable provision. Members shall receive no other compensation, perquisite or allowance for serving on the commission.

          F. For the purposes of the this section, "small resident business" means a business:

                (1) including its affiliates, that is independently owned and operated and employs fifty or fewer full-time employees; and

                (2) that:

                     (a) has paid property taxes or rent on real property in the state and has paid at least one other tax administered by the state for the past three years;

                     (b) if the business is a new business, the owner or majority of owners of which has paid property taxes or rent on real property in the state and has paid at least one other tax administered by the state for the past three years; or

                     (c) if the business is a relocated business, at least eighty percent of the total personnel of the business for the past three years were residents of the state and the business either leased real property for ten years or purchased real property greater than one hundred thousand dollars ($100,000) in value in the state.

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2015.

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