SENATE BILL 635

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

John T. L. Grubesic

AN ACT

MAKING AN APPROPRIATION TO THE ECONOMIC DEVELOPMENT DEPARTMENT TO CONTRACT WITH COMMUNITY DEVELOPMENT CORPORATIONS TO PLAN FOR AND PROMOTE THE DEVELOPMENT AND COOPERATIVE OWNERSHIP OF ALTERNATIVE ENERGY SOURCES BY LOW- AND MODERATE-INCOME POPULATIONS.

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

     Section 1. APPROPRIATION.--Seventy-five thousand dollars ($75,000) is appropriated from the general fund to the economic development department for expenditure in fiscal year 2007 to contract with not-for-profit community development corporations in Santa Fe and Bernalillo counties with fifteen years of experience with a community ownership model known as the "Mondragon cooperative systems" for the purpose of planning and promoting the development and cooperative ownership of alternative energy sources by low- and moderate-income populations. Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall revert to the general fund.

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