HB1216: making an appropriation to the small business innovation research support program.

HB 1216-FN-A - AS INTRODUCED

2003 SESSION

03-2013

05/01

HOUSE BILL 1216-FN-A

AN ACT making an appropriation to the small business innovation research support program.

SPONSORS: Rep. Akins, Graf 18; Rep. Kaen, Straf 72; Rep. Dodge, Rock 80; Rep. Stepanek, Hills 47

COMMITTEE: Finance

ANALYSIS

This bill makes an appropriation to the New Hampshire economic development fund to be used for the small business innovation research support program.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03-2013

05/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Three

AN ACT making an appropriation to the small business innovation research support program.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Appropriation; Small Business Innovation Research Support Program. The sum of $200,000 for the fiscal year ending June 30, 2005, is hereby appropriated to the New Hampshire economic development fund, established in RSA 12-A:2-e, for the purpose of providing matching grants, under RSA 12-A:38, to recipients of federal small business innovation research grants. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.

2 Effective Date. This act shall take effect July 1, 2004.

LBAO

03-2013

6/13/03

HB 1216-FN-A - FISCAL NOTE

AN ACT making an appropriation to the small business innovation research support program.

FISCAL IMPACT:

The Department of Resources and Economic Development states this bill will increase state general fund expenditures by $200,000 in FY 2005, and may increase state and local revenue in FY 2005 and each year thereafter. There will be no fiscal impact on county and local expenditures or county revenue.

This bill appropriates $200,000 to the Department from the general fund in FY 2005.

METHODOLOGY:

The Department states the only known fiscal impact of this bill is the $200,000 appropriation in FY 2005. The cost for distributing matching grants can be absorbed by the Department. Successful Small Business Innovation Research (SBIR) could result in additional business revenue, and subsequently translate into increased state and local tax revenue, but the impact can not be determined at this time.