summary
Introduced
02/11/2021
02/11/2021
In Committee
02/25/2021
02/25/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO ECONOMIC DEVELOPMENT; ENACTING THE RETURN AND RELOCATION ACT; DIRECTING THE ECONOMIC DEVELOPMENT DEPARTMENT TO CREATE A LOAN REPAYMENT PILOT PROGRAM TO ASSIST BUSINESSES TO RECRUIT AND RETAIN ELIGIBLE PARTICIPANTS; CREATING A FUND; MAKING AN APPROPRIATION.
AI Summary
This bill enacts the "Return and Relocation Act" to establish a loan repayment pilot program administered by the Economic Development Department. The program provides awards to eligible organizations, such as employers or businesses owned by recent graduates, to help them recruit and retain eligible participants who have moved to the state within the last year and graduated from a high school, college, or university in the state. The awards can be used to repay the educational loans of these eligible participants. The bill creates a "Relocation Loan Repayment Fund" to finance the program and appropriates $250,000 to the fund. The program is set to expire on July 1, 2024.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
House Appropriations and Finance Committee (13:30 3/3/2021 Room ZOOM) (on 03/03/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=274&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/house/HB0274.pdf |
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