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Mon February 17, 2014
New Mexico Senate Passes Bill Designed To Reduce "Brain Drain"
Senate Bill 36, an initiative carried by Senate Majority Whip Tim Keller (D-17-Bernalillo) seeks to help reverse the “brain-drain” in New Mexico. Today, the bill cleared the Senate Floor and now heads to the House of Representatives.
An estimated 75 percent of New Mexico graduate students want to stay and work right here at home, but only 25 percent are able to do so. The bill seeks to give a $5,000 tax credit to companies who hire graduate students from Science, Technology, Health, Education, and Math (STHEM) programs from New Mexico universities.
Sen. Keller said, “The statistics show that the science, technology and health students that we invest the most in and have the highest prosperity tend to leave the state after receiving their degrees. This bill will help encourage companies to create jobs for our graduates, right here at home.”
The bill includes a sunset clause and reporting requirements.