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.
Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.
| SPONSOR: | Rodriguez | DATE TYPED: | 03/12/01 | HB | |||
| SHORT TITLE: | Santa Fe School and Library Impact Fees | SB | SJM - 81 | ||||
| ANALYST: | Padilla | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY01 | FY02 | FY01 | FY02 | ||
| $ 100.0 | Non-recurring | General Fund | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
SUMMARY
Synopsis of Bill
Senate Joint Memorial 81 requests the Local Government Division of the Department of Finance and Administration to assist the city and county of Santa Fe in conducting a study of the need to impose impact fees to support schools and library services. The memorial asks that the study address how the imposition of impact fees would affect housing prices and also asks for recommendations on how impact fees could be collected.
Significant Issues
The memorial notes that the rapid growth experienced by the city and county of Santa Fe has placed great demands on schools and libraries.
"Impact fees" are a charge or assessment imposed by a municipality or county on new development in order to generate revenue for funding or recouping the costs of capital improvements or facility expansions necessitated by and attributable to the new development.
FISCAL IMPLICATIONS
This is a memorial and contains no appropriation. However, the study requested by the memorial appears to quite technical in nature and would require considerable staff or contract resources. It is estimated that $100.0 in general fund resources would be required.
ADMINISTRATIVE IMPLICATIONS
DFA's Local Government Division will not receive any resources to conduct this study. It is unclear, however, whether the Local Government Division has the resources and expertise needed for the project. The Financial Management Bureau of the Local Government Division is primarily tasked with the review and approval of the budgets of all municipalities and counties in the state. It would not be prudent to divert resources from this activity.
POSSIBLE QUESTIONS
1. Would an appropriation to DFA's Local Government Division for contractual services be a better option for securing the needed study?
LP/njw