2021 New Mexico Statutes
Article 15 - Economic Development Department
Section 9-15-54 - Minority business assistance program; department duties and powers.

A. The department shall develop and implement a minority business assistance program to facilitate the entrance of minority businesses, located throughout the state, into the marketplace. As part of the development and implementation of the program, the department, in collaboration with the labor department, shall:
(1) develop a process to define and identify minority businesses that may benefit from additional assistance and training in the areas of general business practices, accounting principles, business ethics, technical expertise, marketing and government procurement;
(2) develop a registry of well-established businesses, individuals within those businesses, retirees and other persons that have the expertise and skills that may be needed by minority businesses and that have expressed a desire to volunteer as a mentor or otherwise to assist minority businesses;
(3) develop an outreach and marketing program so that minority businesses may become aware of the assistance available and so that needed, experienced individuals are aware of the opportunity to mentor and assist minority businesses;
(4) develop training materials and in-house training expertise; and
(5) create a mentorship program in which employees or agents of the department or volunteers with business experience will visit minority businesses for the purpose of training, mentoring, advising and otherwise assisting the minority businesses in the development or improvement of general business practices, accounting principles, business ethics, technical expertise, marketing and government procurement.
B. In performing its duties under the Minority Business Assistance Act [9-15-52 to 9-15-55 NMSA 1978], the department may:
(1) to the extent money has been appropriated for such purposes, develop a grant program for minority businesses to acquire the expertise necessary to compete effectively; and
(2) do all other things necessary and proper to effectuate the purpose of the Minority Business Assistance Act.
C. All state agencies shall cooperate with the department in carrying out the provisions of the Minority Business Assistance Act and shall, as the opportunity arises, assist minority businesses and encourage other businesses and individuals to register as volunteers under that act.
History: Laws 2007, ch. 180, § 3.
Effective dates. — Laws 2007, ch. 180, § 5 made the Minority Business Assistance Act effective July 1, 2007.

Structure 2021 New Mexico Statutes