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

 

 

 

SPONSOR:

Maes

 

DATE TYPED:

02/01/02

 

HB

 

 

SHORT TITLE:

Study Local Option Impact Fees

 

SB

323

 

 

ANALYST:

Gilbert

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

 

 

 

$             50.0

 

 

Non-Rec

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

LFC Files

 

No Response Received

Department of Finance & Administration (DFA)

 

SUMMARY

 

     Synopsis of Bill

 

Senate Bill 323 appropriates $50.0 from the general fund to the Local Government Division of the Department of Finance and Administration for expenditure in fiscal year 2003, to conduct a study by the City of Santa Fe pertaining to potential local economic benefits and impacts of the imposition of local option impact fees pursuant to the Development Fees Act.

 

     Significant Issues

 

The study specified in this bill shall include a survey of local governments and school districts to determine their level of interest and potential participation in local option impact fees.

 

FISCAL IMPLICATIONS

 

The appropriation of $50.0 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.

 

 

ADMINISTRATIVE IMPLICATIONS

 

The City of Santa Fe would be responsible for delegating the study required by this bill to current employees or to an independent contractor.

 

RLG/njw

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