[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:	Pinto		DATE TYPED:	02/05/02		HB
SHORT TITLE:		NM Route 264 Improvements				SB	SJM 46
					ANALYST:		Valdes

APPROPRIATION

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

$5,000.0

Non-Recurring

State Road Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

State Highway and Transportation Department (SHTD)

SUMMARY

Synopsis of Bill

Senate Joint Memorial 46 requests the State Highway and Transportation Department (SHTD) place top priority on the project to improve New Mexico route 264 (NM264).

Significant Issues

The department’s district maintenance program regularly provides maintenance services to NM264 in the absence of sufficient funding to provide major improvements. Last year the department placed a thin asphalt overlay over half of the length of the roadway. This summer the department will overlay the other half of the road.

FISCAL IMPLICATIONS

The department estimates the cost of rehabilitating the sixteen-mile length of NM264 would be approximately $5 million. Due to revenue constraints, the 100 Percent State Construction Program used to fund non-federal highway improvements will not be funded in fiscal year 2003. 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.

MV/ar