The commission shall:
A. develop and recommend policies and provide policy and program guidance for the department;
B. review, modify and approve annual updates to the state's five-year economic development plan generated by the department;
C. advise, assist and promote the department on matters relating to technology, technology-based new business development and technology commercialization projects;
D. review federal technology-based programs requiring state matching funds and authorize any expenditure or pledge of the state match fund for such programs; and
E. establish such rules and regulations for its own operations as are necessary to achieve the purposes of the Economic Development Department Act. Rules and regulations of the commission shall be adopted in the same procedural manner as rules and regulations of the department are adopted and shall be filed in accordance with the State Rules Act [Chapter 14, Article 4 NMSA 1978].
History: Laws 1983, ch. 297, § 12; 1988, ch. 81, § 6; 1991, ch. 21, § 19; 1993, ch. 101, § 5; 1994, ch. 113, § 1.
ANNOTATIONSCross references. — For state matching funds, see 9-15-19.1 NMSA 1978.
The 1994 amendment, effective May 18, 1994, deleted "economic development" preceding "department" in Subsection A; added "and" at the end of Subsection C; added present Subsection D; and redesignated former Subsection D as present Subsection E.
The 1993 amendment, effective June 18, 1993, deleted "and the tourism department" following "department" at the end of Subsection A, deleted "and tourism" following "development" in Subsection B, and, in Subsection D, deleted "and the Tourism Department Act" following "Act" at the end of the first sentence and made a minor stylistic change in the second sentence.
The 1991 amendment, effective March 27, 1991, inserted "economic development department and the tourism" in Subsection A; deleted former Subsection B, which read "assist and promote research and development projects in the state"; redesignated former Subsection C as present Subsection B and inserted "state's" therein; inserted present Subsection C; and, in Subsection D, deleted "and Tourism" following "Development" and added "and the Tourism Department Act" in the first sentence and substituted "departments" for "department" in the second sentence.