Section 7-9E-11 - Reporting. - New Mexico Statutes

7-9E-11. Reporting.

A.     By October 15 of each year, a national laboratory that has claimed a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the previous calendar year shall submit an annual report in writing to the department, the economic development department and an appropriate legislative interim committee.   

B.     If more than one national laboratory claims a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the previous calendar year, those laboratories shall jointly submit an annual report to the department, the economic development department and an appropriate legislative interim committee no later than October 15 following the calendar year in which the small business assistance was provided.    

C.     An annual report shall summarize activities related to and the results of the small business assistance programs that were provided by one or more national laboratories and shall include: 

(1)     a summary of the program results and the number of small businesses assisted in each county; 

(2)     a description of the projects involving multiple small businesses; 

(3)     results of surveys of small businesses to which small business assistance is provided; 

(4)     the total amount of the tax credits claimed pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the year on which the report is based; and 

(5)     an economic impact study of jobs created, jobs retained, cost savings and increased sales generated by small businesses for which small business assistance is provided.   

D.     At any time after receipt of an annual report required pursuant to this section from one or more national laboratories eligible for tax credits authorized pursuant to the Laboratory Partnership with Small Business Tax Credit Act, the department or the economic development department may provide written instructions to a national laboratory identifying future improvements in the laboratory's small business assistance program for which it receives that tax credit.