NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.



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F I S C A L I M P A C T R E P O R T





SPONSOR: Taylor, J. G. DATE TYPED: 01/28/01 HB 161
SHORT TITLE: Revoke Legislative Authority on NMFA

Projects

 SB
ANALYST: Linda M. Kehoe





REVENUE



Estimated Revenue
 Subsequent

Years Impact

 Recurring

or Non-Rec

 Fund

Affected

FY01 FY02
$ 43,702.7 Non-Recurring PPRF



(Parenthesis ( ) Indicate Revenue Decreases)



SOURCES OF INFORMATION



New Mexico Finance Authority



SUMMARY



Synopsis of Bill



House Bill 161 removes legislative authorization for the New Mexico Finance Authority (NMFA) to make loans from the Public Project Revolving Fund for projects that are no longer in need of funding.



Significant Issues



House Bill 161, Section 1, subsections A. through BB. de-authorizes 28 different projects from 24 qualified entities statewide totaling approximately $43,702.7. According to NMFA, the highest officer representing each entity has been contacted and has confirmed the projects listed in the bill no longer require financial assistance. Section 2 contains an emergency clause.



FISCAL IMPLICATIONS



The de-authorization of projects contained in House Bill 161 will increase the PPRF loan capacity by $43,702.7 for other loans.



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