SENATE BILL 177
56th legislature - STATE OF NEW MEXICO - first session, 2023
MAKING AN APPROPRIATION TO THE HIGHER EDUCATION DEPARTMENT FOR CENTRAL NEW MEXICO COMMUNITY COLLEGE TO DEVELOP AND LAUNCH A VENTURE STUDIO TO BUILD AND DEVELOP LOCAL COMPANIES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION.--Five million dollars ($5,000,000) is appropriated from the general fund to the higher education department for expenditure in fiscal years 2024 through 2028 for central New Mexico community college to develop and launch a venture studio to build and develop local companies. Any unexpended or unencumbered balance remaining at the end of fiscal year 2028 shall revert to the general fund.