0001|                         HOUSE BILL 263
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0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003|     1996
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0004|                         INTRODUCED BY
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0005|                        NICK L. SALAZAR
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0006|     
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0007|                                
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0008|            FOR THE SCIENCE, TECHNOLOGY, ENERGY AND 
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0009|                  DEFENSE CONVERSION COMMITTEE
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0010|     
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0011|     
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0012|                             AN ACT
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0013|     RELATING TO ECONOMIC DEVELOPMENT; CREATING THE EMPLOYMENT MATCH
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0014|     FUND FOR JOB TRAINING AND ENTREPRENEURIAL TRAINING, FOR PROGRAMS
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0015|     DESIGNED TO EXPAND JOBS IN THE STATE AND FOR ECONOMIC
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0016|     RELOCATIONS AND HARDSHIPS; MAKING APPROPRIATIONS; DECLARING AN
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0017|     EMERGENCY.
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0018|     
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0019|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0020|       Section 1.  A new section of the Economic Development
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0021|     Department Act is enacted to read:
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0022|       "[<u>NEW MATERIAL</u>]  EMPLOYMENT MATCH FUND CREATED.--
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0023|            A.  The "employment match fund" is created in the
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0024|     state treasury.  Money in the fund is appropriated to the
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0025|     economic development department for the purpose of promoting a
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0001|     stable business climate in the state by providing a pool of
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0002|     funds to match federal funds appropriated to the state for job
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0003|     training and entrepreneurial training, for programs designed to
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0004|     expand jobs in the state and for regional economic relocations
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0005|     and hardships, including loss of jobs as the result of the
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0006|     closing of major industries.
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0007|            B.  No money in the employment match fund
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0008|     appropriated or accruing to the fund in any manner shall be
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0009|     transferred to another fund or encumbered or dispersed in any
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0010|     manner except for the purposes set forth in this section;
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0011|     provided that money in the fund may be invested by the state
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0012|     treasurer in the manner provided for other state funds. 
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0013|     Appropriations made to the fund but not expended at the end of
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0014|     the fiscal year for which appropriated shall not revert to the
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0015|     general fund but shall accrue to the credit of the fund. 
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0016|     Earnings on the balance in the fund shall be credited to the
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0017|     fund.
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0018|            C.  The department shall establish procedures and
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0019|     adopt regulations as required to administer the employment match
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0020|     fund.  Disbursements from the fund shall only be made upon
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0021|     warrant drawn by the secretary of finance and administration
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0022|     pursuant to vouchers signed by the secretary of economic
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0023|     development or his designee."
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0024|       Section 2.  APPROPRIATION.--One million dollars
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0025|     ($1,000,000) is appropriated from the general fund to the
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0001|     employment match fund for expenditure in fiscal years 1996 and
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0002|     1997 for the purpose of providing a pool of funds to match
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0003|     federal funds appropriated to the state for job training and
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0004|     entrepreneurial training, for programs designed to expand jobs
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0005|     in the state and for regional economic relocations and
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0006|     hardships, including loss of jobs as the result of the closing
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0007|     of major industries.  Any unexpended or unencumbered balance
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0008|     remaining at the end of fiscal year 1997 shall not revert to the
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0009|     general fund.
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0010|       Section 3.  EMERGENCY.--It is necessary for the public
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0011|     peace, health and safety that this act take effect immediately.
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0012|                              
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0013|     
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0014|                              State of New Mexico
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0015|                    House of Representatives
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0016|   
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0017|                    FORTY-SECOND LEGISLATURE
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0018|                      SECOND SESSION, 1996
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0019|   
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0020|   
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0021|                                              February 1, 1996
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0022|   
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0023|   
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0024|   Mr. Speaker:
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0025|   
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0001|       Your BUSINESS AND INDUSTRY COMMITTEE, to whom has
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0002|   been referred
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0003|   
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0004|                         HOUSE BILL 263
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0005|                                
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0006|                                 has had it under consideration and reports same with
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0007|   recommendation that it DO PASS, and thence referred to the
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0008|   APPROPRIATIONS AND FINANCE COMMITTEE.
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0009|   
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0010|                                Respectfully submitted,
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0011|   
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0012|   
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0013|   
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0014|                                <u>                                 
</u>    |
<u></u>0015| <u>  </u>                            Fred Luna, Chairman
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0016|   
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0017|   
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0018|   Adopted <u>                    </u>    Not Adopted <u>                     
</u>    |
<u></u>0019| <u>  </u>
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0020|            (Chief Clerk)                       (Chief Clerk)
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0021|   
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0022|                      Date <u>            </u>
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0023|   
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0024|   The roll call vote was<u> 8 </u> For<u> 1 </u> Against
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0025|   Yes:          8
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0001|   No:      Alwin
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0002|   Excused: Gurule, Olguin, Varela
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0003|   Absent:  None
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0004|   
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0005|   
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0006|   
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0007|                                                              
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0008|   H0263BI1
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