HOUSE BILL 303

53rd legislature - STATE OF NEW MEXICO - second session, 2018

INTRODUCED BY

Bill McCamley

 

 

 

 

 

AN ACT

RELATING TO HIGHER EDUCATION; REQUIRING REPORTING BY EDUCATIONAL INSTITUTIONS AND THE HIGHER EDUCATION DEPARTMENT ON ECONOMIC DEVELOPMENT PROGRAMS.

 

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-- PERFORMANCE--REPORTING.--

          A. A public post-secondary educational institution or 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 that measure, as applicable, the:

                     (a) number of jobs created through the program; and

                     (b) public or private investments made in the region or state in connection with the program;

                (2) beginning in 2018, on or before September 1 of each year, report to the higher education department 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; and

                (3) beginning in 2020, on or before August 1 of each year, report to the higher education department the institution's or college's program performance for the preceding fiscal year with respect to each metric listed in Paragraph (1) of this subsection.

          B. Beginning in 2020, on or before September 1 of each year, the higher education department shall submit a report to the economic development department, the department of finance and administration and the legislative finance committee that includes the information reported to it in accordance with Paragraph (3) of Subsection A of this section."

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