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| SPONSOR: | Aragon | DATE TYPED: | 02/10/00 | HB | |||
| SHORT TITLE: | Amend Authorization for Certain STBS | SB | 443 | ||||
| ANALYST: | Williams | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY00 | FY01 | FY00 | FY01 | ||
| See Narrative | |||||
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates HB349
SOURCES OF INFORMATION
LFC files
Department of Finance and Administration - Board of Finance (DFA/BOF)
SUMMARY
Synopsis of Bill
For the severance tax bond program, 1999 legislation authorized $20 million to provide funding for sewer projects in the north and south valley areas of Bernalillo County. The authorization is limited to $2 million per year for FY01 to FY10. For this program, the bill would authorize funding from federal, city and county sources beyond that level needed for certification in any fiscal year to be carried forward and credited against the amount required in subsequent years.
Significant Issues
DFA notes the authorization was conditioned on the receipt of matching funds from the federal government and local sources that would provide 4½ times the amount of state funding.
FISCAL IMPLICATIONS
None, but may reduce the need for state funds.
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