summary
Introduced
01/21/2017
01/21/2017
In Committee
02/13/2017
02/13/2017
Crossed Over
01/28/2017
01/28/2017
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO ECONOMIC DEVELOPMENT; EXPANDING THE PURPOSE OF THE LOCAL ECONOMIC DEVELOPMENT ACT TO INCLUDE THE PROMOTION OF LOCAL BUSINESSES; REQUIRING THE ECONOMIC DEVELOPMENT DEPARTMENT TO USE A PORTION OF THE MONEY APPROPRIATED FOR IMPLEMENTING THAT ACT FOR RESIDENT BUSINESS PROJECTS.
AI Summary
This bill expands the purpose of the Local Economic Development Act to include the promotion of local businesses in New Mexico. It requires the Economic Development Department to use a portion of the money appropriated for implementing the Act (at least $2 million in fiscal year 2018) for projects that support "resident businesses" - businesses with a valid resident business certificate issued by the Taxation and Revenue Department. The goal is to provide municipalities and counties with the resources to promote and support local businesses and economic development efforts within their communities.
Committee Categories
Budget and Finance, Labor and Employment, Military Affairs and Security
Sponsors (2)
Last Action
[LD 28] Referred to Senate Finance (on 02/13/2017)
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/Legislation/Legislation?chamber=H&legtype=B&legno=356&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0356.pdf |
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