Bill > HB76

This bill requires public colleges and community colleges in New Mexico that run programs aimed at economic development, entrepreneurship, job creation, or intellectual property development to report on their performance. Specifically, these institutions must work with the higher education department to establish ways to measure their success, such as the number of jobs created and the amount of public or private investment generated by their programs. Starting in 2016, they will need to report their goals for the upcoming fiscal year to the higher education department by September 1st each year, and beginning in 2018, they must report their actual performance for the previous fiscal year by August 1st each year. Furthermore, starting in 2018, the higher education department will compile all this performance data and submit a consolidated report to the economic development department, the department of finance and administration, and the legislative finance committee by September 1st annually. The provisions of this act are set to take effect on July 1, 2016.