45th legislature - STATE OF NEW MEXICO - second session, 2002

MAKING AN APPROPRIATION FOR THE CITY OF SANTA FE TO CONDUCT A STUDY ON THE LOCAL ECONOMIC BENEFITS AND IMPACT OF LOCAL OPTION IMPACT FEES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. APPROPRIATION.--Fifty thousand dollars ($50,000) is appropriated from the general fund to the local government division of the department of finance and administration for expenditure in fiscal year 2003 to finance a study by the city of Santa Fe on potential local economic benefits and impacts of the imposition of local option impact fees pursuant to the Development Fees Act. The study shall include a survey of local governments and school districts on their level of interest and potential participation. Any unexpended or unencumbered balance remaining at the end of fiscal year 2003 shall revert to the general fund.