New Mexico Statutes 7-9E-6. Administration by the national laboratory
To qualify for tax credits pursuant to the Laboratory Partnership with Small Business Tax Credit Act, a national laboratory shall:
Terms Used In New Mexico Statutes 7-9E-6
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A. establish a small business assistance program;
B. establish a revolving fund with initial funding from a source other than tax credits. Money from the revolving fund shall be used to pay for qualified expenditures, and the fund shall be replenished with an amount equal to the tax credits taken pursuant to the Laboratory Partnership with Small Business Tax Credit Act;
C. consult with the secretary of economic development to seek advice on improvements in the operation of the small business assistance program; and
D. establish a methodology to utilize contractors who have demonstrated the capability to provide small business assistance.