HOUSE BILL 76
52nd legislature - STATE OF NEW MEXICO - second session, 2016
Bill McCamley and Jimmie C. Hall
RELATING TO HIGHER EDUCATION; REQUIRING REPORTING BY CERTAIN EDUCATIONAL INSTITUTIONS REGARDING ECONOMIC-DEVELOPMENT-RELATED PROGRAMS; REQUIRING REPORTING BY THE HIGHER EDUCATION DEPARTMENT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of Chapter 21 NMSA 1978 is enacted to read:
"[NEW MATERIAL] ECONOMIC DEVELOPMENT PROGRAMS--REPORTING.--
A. A public post-secondary educational institution or a community college that administers or provides facilities for a program to support economic development or entrepreneurship, to create jobs or to develop intellectual property shall:
(1) in consultation with the higher education department, develop performance metrics for the program that measure, as applicable, the number of:
(a) jobs created; and
(b) public or private investments made in the region or state in connection with the program;
(2) beginning in 2016 and each year thereafter, on or before September 1, report the institution's or college's program performance goals for the next fiscal year with respect to each metric listed in Paragraph (1) of this subsection to the higher education department; and
(3) beginning in 2018 and each year thereafter, on or before August 1, report the institution's or college's actual program performance for the preceding fiscal year for each metric provided in Paragraph (1) of this subsection to the higher education department.
B. Beginning in 2018 and each year thereafter, on or before September 1, the higher education department shall submit a report that includes all information reported to the higher education department pursuant to Paragraph (3) of Subsection A of this section to the economic development department, the department of finance and administration and the legislative finance committee."
SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2016.