HOUSE BILL 118
56th legislature - STATE OF NEW MEXICO - first session, 2023
T. Ryan Lane and Meredith A. Dixon and Linda Serrato and
Joshua N. Hernandez and Doreen Y. Gallegos
RELATING TO ECONOMIC DEVELOPMENT; CREATING THE OFFICE OF ENTREPRENEURSHIP WITHIN THE ECONOMIC DEVELOPMENT DIVISION OF THE ECONOMIC DEVELOPMENT DEPARTMENT; SPECIFYING DUTIES; REQUIRING REPORTS; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of Chapter 9, Article 15 NMSA 1978 is enacted to read:
"[NEW MATERIAL] OFFICE OF ENTREPRENEURSHIP--CREATED--DUTIES--ANNUAL REPORT.--
A. The "office of entrepreneurship" is created within the economic development division of the economic development department.
B. The office of entrepreneurship shall employ personnel to strengthen policies and programs supporting the growth of entrepreneurship in New Mexico, including across demographic segments and geographic areas. The office shall work with stakeholders and organizations supporting entrepreneurship to enhance learning and skills, provide technical support and expand access to resources for entrepreneurs across New Mexico. The office shall serve as a point of contact to assist businesses operating for five years or less in their interactions with state government.
C. By October 1, 2024, and by October 1 of each year thereafter, the office of entrepreneurship shall prepare a report entitled "entrepreneur impact statement" that details the extent to which legislation signed by the governor in the prior twelve months supports, hinders or otherwise affects businesses operating for five years or less."
SECTION 2. APPROPRIATION.--Five hundred thousand dollars ($500,000) is appropriated from the general fund to the economic development department for expenditure in fiscal years 2024 through 2026 to fund the office of entrepreneurship within the economic development division of the economic development department. Any unexpended or unencumbered balance remaining at the end of fiscal year 2026 shall revert to the general fund.
SECTION 3. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2023.
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