SENATE BILL 452

51st legislature - STATE OF NEW MEXICO - first session, 2013

INTRODUCED BY

Pete Campos

AN ACT

MAKING AN APPROPRIATION TO PROVIDE GRANTS TO POLITICAL SUBDIVISIONS TO FOSTER JOB GROWTH.

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

     SECTION 1. APPROPRIATION.--Ten million dollars ($10,000,000) is appropriated from the general fund to the economic development department for expenditure in fiscal years 2014 through 2018 to provide grants to political subdivisions to foster job growth in existing businesses and to attract new businesses. Any unexpended or unencumbered balance remaining at the end of fiscal year 2018 shall revert to the general fund.

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