SENATE BILL 219

53rd legislature - STATE OF NEW MEXICO - second session, 2018

INTRODUCED BY

Benny Shendo, Jr.

AN ACT

MAKING AN APPROPRIATION TO THE LEGISLATIVE COUNCIL SERVICE TO CONTRACT FOR JOB GROWTH AND ECONOMIC FORECASTING RESEARCH REGARDING NEW AND EMERGING INDUSTRIES IN NEW MEXICO.

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

     SECTION 1. APPROPRIATION.--

          A. One hundred fifty thousand dollars ($150,000) is appropriated from the general fund to the legislative council service for expenditure in fiscal year 2019 to contract for job growth and economic forecasting research. Any unexpended or unencumbered balance remaining at the end of fiscal year 2019 shall revert to the general fund.

          B. The research required in Subsection A of this section shall identify and prioritize new and emerging industries in New Mexico that can succeed in the state but currently represent less than ten percent of the state's gross state product. The research shall also estimate the economic and job growth for identified industries. Results of the research shall be reported to the legislative finance committee and other appropriate interim legislative committees no later than December 15, 2018.

- 2 -