[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:	Altamirano		DATE TYPED:	01/30/02		HB
SHORT TITLE:		WNMU Displaced Workers Assistance				SB	284
					ANALYST:		Baca

APPROPRIATION

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

$450.0

Recurring

General Fund

(Parenthesis) Indicate Expenditure Decreases)

Relates to Appropriation in The General Appropriation Act

SOURCES OF INFORMATION

Commission on Higher Education (CHE)

LFC Files

SUMMARY

Synopsis of Bill

Senate Bill 284 appropriates $450.0 to the Board of Regent2 at Western New Mexico University (WNMU) to fund initiatives that assist approximately $1,000 displaced workers and to support regional economic development activities.

Significant Issues

Senate Bill 184 addresses the social and economic impact of the closure and/or downsizing of several local mines in the Silver City area. Economic development assistance to diversify the area’s economy is considered the most viable vehicle to help offset the impact caused by the downturn in the mining industry.

FISCAL IMPLICATIONS

The appropriation of $450.0 contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of FY2003 shall revert to the general fund.

OTHER SUBSTANTIVE ISSUES

The following is provided for information only. It is not intended as a commentary on the merits of the bill:

This program was not included in WNMU’s budget request to its Board of Regents, and thus was not included in the list of priority projects submitted by WNMU to the Commission on Higher Education for review.

POSSIBLE QUESTIONS

1. Has the Department of Economic undertaken any activities to help diversify the area’s economy?

2. Has any assistance been requested from the Economic Development Department?

3. Has the federal government provided any assistance thus far ? Has it been requested?

4. Is immediate action by the state Legislature needed?

LB/njw:ar