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

 

 

 

SPONSOR:

Rodella

 

DATE TYPED:

02/04/02

 

HB

HJM 70

 

SHORT TITLE:

State Highway 554 Improvements

 

SB

 

 

 

ANALYST:

Valdes

 

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

 

 

 

 

$0.1

See Narrative

 

Non-Recurring

State Road Fund

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)  

 

 

SOURCES OF INFORMATION

 

State Highway and Transportation Department

 

SUMMARY

 

     Synopsis of Bill

 

House Joint Memorial 70 requests the State Highway and Transportation Department (SHTD) make improvements to New Mexico highway 554 (NM544) in Rio Arriba County including installation of guardrails, shoulder work and pavement resurfacing.

 

     Significant Issues

 

The department estimates the cost of guardrail installation, shoulder improvements and pavement resurfacing on NM 554 would cost approximately $15 million.  The department schedules regular maintenance activities on this highway in the absence of funding to initiate the improvements described in this joint memorial.

 

FISCAL IMPLICATIONS

 

The department is experiencing budget constraints with state road fund revenue projections flat and large declines expected in federal revenues based on the proposed federal budget for fiscal year 2003 released by President Bush.  Any increases proposed for existing projects would require a diversion of an equivalent amount of funding from other highway projects.  New revenue sources would have to be identified to address existing highway deficiencies.

 

MFV/prr

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