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

SPONSOR:	Varela		DATE TYPED:	01/27/02		HB	155
SHORT TITLE:		Traditional Agricultural Way of Life				SB
					ANALYST:		Woodlee

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY02	FY03	FY02	FY03
	$250.0			Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

Economic Development Department

New Mexico Department of Agriculture

SUMMARY

Synopsis of Bill

House Bill 155 appropriates $250.0 from the general fund to the Economic Development Department for the purpose of contracting with a non-profit farmers’ market organization administratively based in Santa Fe county to create and implement an economic development plan that focuses on creating agricultural jobs in a regional economy, preserve a traditional New Mexican agricultural way of life, provide food for the poor, expand the market for state-grown agricultural products, create revenue circulation within the state, bridge the gap between urban and rural communities and leverage state funding through federal and private resources.

Significant Issues

Such an economic development plan is a good opportunity for citizens to have a resource and direction for increasing wealth and job opportunities in the traditional agricultural sector. The Economic Development Department indicates that this could increase the creation of agricultural jobs in a regional and traditional way of life. Organizations such as these nonprofits serve as a stimulus for rural economic development and provide a direct retail market for small-scale growers in their areas.

FISCAL IMPLICATIONS

The appropriation of $250.0 contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2003 shall revert to the general fund.

MW/njw