[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.

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

SPONSOR:	Lujan		DATE TYPED:	02/05/02		HB	448
SHORT TITLE:		Head-of-Family Exemption Changes				SB
					ANALYST:		Neel

REVENUE

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

NFI

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

LFC files

Taxation and Revenue Department (TRD)

SUMMARY

Synopsis of Bill

House Bill 448 amends statute to provide clarifying language for the Head-of-Family exemption from property tax. HB 448 deletes reference to earlier time-tables for the phase in of this exemption.

FISCAL IMPLICATIONS

HB 448 does not contain an appropriation, nor does it have a fiscal impact.

ADMINISTRATIVE IMPLICATIONS

None.

SN/ar