[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:	Duran		DATE TYPED:	02/05/02		HB
SHORT TITLE:		Equipment Recording Fee				SB	234
					ANALYST:		Gilbert

REVENUE

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

$ 0.1

*See Narrative

$ 0.1

*See Narrative

Recurring

Local Government

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

LFC Files

Response Received

Department of Finance and Administration (DFA)

SUMMARY

Synopsis of Bill

Senate Bill 234 amends Section 14-8-12.2 NMSA 1978, to increase the amount county clerks may charge for each recorded instrument. The amended language changes the maximum allowable fee from $3.00 to $4.00 for each instrument recorded.

FISCAL IMPLICATIONS

This bill would increase county government revenue to help offset the operating costs of county clerk’s offices.

OTHER SUBSTANTIVE ISSUES

The Local Government Division of the Department of Finance and Administration monitors all revenues distributed and generated by New Mexico counties.

RLG/ar