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 for other purposes.

 

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

 

 

 

SPONSOR:

Ruiz

 

DATE TYPED:

02/14/03

 

HB

90

 

SHORT TITLE:

Water & Wastewater Planning

 

SB

 

 

 

ANALYST:

Valenzuela

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

$      1,000.0

 

 

Non-recurring

General Fund

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

$1,000.0

 

Non-Recurring

WWPF

 

 

 

 

 

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

New Mexico Finance Authority

Department of Environment

 

SUMMARY

 

     Synopsis of Bill

 

House Bill 90 appropriates $1 million from the general fund to the New Mexico Finance Authority’s Water and Wastewater Planning Fund (WWPF) for the purpose of providing grants, with conditions, to qualified entities for the feasibility and planning of water and wastewater systems. The appropriation, if not spent, will not revert to the general fund. 

 

FISCAL IMPLICATIONS

 

The appropriation of $1 million contained in this bill is a non-recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall NOT revert to the general fund.

 

NMFA reports that it has promulgated rules that outline the terms and conditions of the grants. The primary condition is that the qualified entity must repay the grant when the entity secures financing from any source for the public water or wastewater project.

 

MFV/njw