Analysis

Synopsis:

 House Joint Memorial 2 (HJM 2) requests the New Mexico Legislative Council to create a Legislative Economic Policy Council.

Analysis:

 House Joint Memorial 2 (HJM 2) requests the New Mexico Legislative Council to create a Legislative Economic Policy Council.

HJM 2 finds:
•	The New Mexico economy has tremendous comparative advantages in natural resources, tourism, hospitality, foodservices, agriculture, transportation, international trade, human capital, culture, language and heritage; and
•	The creation of a Legislative Economic Policy Council (LEPC) to provide advice and expertise to the legislature on economic policy matters would help with implementing good public policy with the right conditions for businesses to grow and for commerce to flourish and investments to take place for sustainable economic development in the state.

HJM 2 requests:
•	The New Mexico Legislative Council (NMLC) create a LEPC;
•	The LEPC consist of fifteen members including the chair of certain relevant house and senate standing committees; four public members with economic research backgrounds; five public members from business organizations; and four public members who are entrepreneurs or business owners:
•	Public members of the LEPC be selected from geographically diverse areas of the state with at least six members residing outside of Bernalillo County;
•	The LEPC meet at least four times before 1 November 2021 and  invite representatives of appropriate legislative committees, state agencies, and other interested persons to its meetings for the purpose of information exchange and coordination;
•	Public members receive per diem and mileage;
•	The LEPC provide a report of its findings and recommendations that will include an economic analysis of at least two policy recommendations concerning economic growth and legislative policy decisions to achieve this goal to the appropriate interim legislative committee: 
•	The co-chairs of the NMLC, the secretaries of economic development, of tourism, of taxation and revenue, of transportation, and of higher education, the director of the New Mexico Department of Agriculture and the president and chief executive officer of the New Mexico Chamber of Commerce receive copies of HJM 2.

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