HOUSE BILL 147

49th legislature - STATE OF NEW MEXICO - second session, 2010

INTRODUCED BY

Roberto "Bobby" J. Gonzales

AN ACT

MAKING AN APPROPRIATION FOR COMMUNITY AND ECONOMIC DEVELOPMENT SUPPORT AND EQUITY CAPITAL.

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

     Section 1. APPROPRIATION.--One hundred fifty thousand dollars ($150,000) is appropriated from the general fund to the economic development department for expenditure in fiscal year 2011 to provide community and economic development support and equity capital for underserved individuals and communities and to leverage federal and private foundation resources in delivering human and financial capital to small businesses throughout New Mexico, with a focus on rural communities. Any unexpended or unencumbered balance remaining at the end of fiscal year 2011 shall revert to the general fund.

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