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| SPONSOR: | Taylor, J.G. | DATE TYPED: | 02/09/00 | HB | 66/aHTRC | ||
| SHORT TITLE: | Revocation of Legislative Authority | SB | |||||
| ANALYST: | Kehoe | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY00 | FY01 | |||
| $ 17,803.9 | Non-Recurring | Other/PPRF | ||
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
New Mexico Finance Authority (NMFA)
SUMMARY
Synopsis of HTRC Amendment
The House Taxation and Revenue Committee amendment allows the South Central Solid Waste Authority to continue to seek funding from the NMFA for a solid waste project.
Synopsis of Original Bill
House Bill 66 removes legislative authorization for the NMFA to make loans from the Public Project Revolving Fund for projects that are no longer in need of funding.
Significant Issues
House Bill 66, Section 1, subsections A. through S. de-authorizes 19 different projects from 18 qualified entities statewide totaling approximately $17,803.9. 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.
FISCAL IMPLICATIONS
The de-authorization of projects contained in House Bill 66 will increase the PPRF loan capacity by $17,803.9 for other loans. The bill contains an emergency clause.
LMK/njw:gm