HOUSE BILL 270

56th legislature - STATE OF NEW MEXICO - second session, 2024

INTRODUCED BY

Joseph L. Sanchez and Gail Armstrong and Tara L. Lujan and

Art De La Cruz and Meredith A. Dixon

 

 

 

 

AN ACT

RELATING TO HIGHER EDUCATION; AMENDING PROVISIONS GOVERNING THE TECHNOLOGY ENHANCEMENT FUND; REQUIRING ASSESSMENTS OF BENEFITS FOR ECONOMIC DEVELOPMENT, RURAL AND TRIBAL COMMUNITIES AND WORKFORCE EDUCATION AND TRAINING; MAKING AN APPROPRIATION.

 

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

     SECTION 1. Section 21-1-27.2 NMSA 1978 (being Laws 2003, Chapter 367, Section 1) is amended to read:

     "21-1-27.2. TECHNOLOGY ENHANCEMENT FUND CREATED--ALLOCATIONS--APPLICATION REVIEW PANELS.--

          A. The "technology enhancement fund" is created in the state treasury. The fund shall consist of appropriations, income from investment of the fund, gifts, grants, donations and bequests. Money in the fund shall not revert at the end of any fiscal year. The fund shall be administered by the [commission on] higher education department. Money in the fund shall be used to provide matching funds for federal or private grants to [state research universities] research institutions to support innovative applied research that advances knowledge and creates new products and production processes in the fields of agriculture, biotechnology, biomedicine energy, materials science, microelectronics, water resources, aerospace, telecommunications, manufacturing science and similar research areas. Money from the fund shall be expended on warrants of the secretary of finance and administration upon vouchers signed by the [executive director of the commission on] secretary of higher education or the [executive director's] secretary's authorized representative.

          B. Grants from the fund are available to [state research universities that are conducting collaborative research with corporate and nonprofit organizations] research institutions. A [state research university] research institution may apply for a grant from the fund in accordance with rules promulgated by the [commission on] higher education department. Allocations from the fund shall be based on a competitive process with applications reviewed by a panel of scientific and business experts established by the [commission] department. The review panel may determine new research areas and shall judge grant proposals based on excellence in research design and possible innovation [in] and an assessment of a proposal's projected:

                (1) cross-disciplinary, multi-campus and higher education-industry research collaboration; [The review panel may determine new research areas] and

                (2) benefits for economic development, rural and tribal communities and workforce education and training.

          C. To apply for a grant, [a state research university] an applicant must have equal or greater matching [funds] money for the proposal from sources other than the state. A grant from the technology enhancement fund shall not be used to supplant matching money that an applicant has expended or encumbered for a previously received grant.

          D. As used in this section, "research institution" means Navajo technical university, New Mexico state university, the New Mexico institute of mining and technology or the university of New Mexico."

     SECTION 2. APPROPRIATION.--Seventy million dollars ($70,000,000) is appropriated from the general fund to the technology enhancement fund for expenditure in fiscal year 2025 and subsequent fiscal years for the purposes of the fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

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