[1] NOTE: As provided in LFC policy, this report is intended only 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 (in HTML & Adobe PDF formats) is available on the Legislative Website. The Adobe PDF version includes all attachments, whereas the HTML version does not. Previously issued FIRs and attachments may be obtained from the LFC’s office in Suite 101 of the State Capitol Building North.

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

SPONSOR:	Herrera		DATE TYPED:	01/29/02		HB	212
SHORT TITLE:		Grant County Emergency Loan				SB
					ANALYST:		Sandoval

APPROPRIATION

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

$189.0

Non-Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Duplicates/Conflicts with/Companion to/Relates to 154House Bill 212 duplicates Senate Bill 154

SOURCES OF INFORMATION

LFC files

No Response

Department of Finance and Administration (DFA)

SUMMARY

Senate Bill 154 appropriates $189.0 from the general fund to State Board of Finance for the purpose of paying off an emergency loan made by the State Board of Finance to Grant County.

FISCAL IMPLICATIONS

The appropriation of $189.0 contained in this bill is a non-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.

POSSIBLE QUESTIONS

1. Why is Grant County unable to pay back this loan?

2. What plan does Grant County have in place to pay this debt if an appropriation is not awarded?

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

SOURCES OF INFORMATION

LFC files

JFS/ar