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:

Griego

 

DATE TYPED:

03/16/03

 

HB

 

 

SHORT TITLE:

Local Government Ordinance Impact Studies

 

SB

411/aSPAC

 

 

ANALYST:

Kehoe

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

NFI

 

 

 

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

NFI

 

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

New Mexico Mortgage Finance Authority (MFA)

Local Government Division (LGD)

 

SUMMARY

 

     Synopsis of SPAC Amendment

 

Senate Public Affairs Amendments to Senate Bill 411 are as follows:  Item 1 is a technical correction; Items 2 and 3 redefine a “municipality” for the purposes of this bill to mean “class A county having a valuation over $3.7 billion but less than $5 billion and a population over 128,000 but less than 140,000.”  According to net taxable values used for rate setting for 2002 property tax year (Local Government Division of the Department of Finance and Administration) and according to the U.S. Department of Commerce, Bureau of the Census 2001, Santa Fe is the only county impacted by this bill.

     Synopsis of Original Bill

 

Senate Bill 411 amends the Municipal Code to require certain municipalities and class A counties to prepare ordinance impact studies every five years to determine how land use ordinances, master plans and other regulations affect the housing industry.

 

     Significant Issues

 

Senate Bill 411 adds new sections to the Municipal Code requiring that class A counties and municipalities with populations greater than 60,000 publish an impact study every five years to include the cumulative effect of land use ordinances, master plans, and other regulations on the housing industry.  Class A counties, municipalities of a population of 100,000 or more, include Bernalillo, Dona Ana, San Juan and Santa Fe. 

 

Senate Bill 411 requires municipalities with populations greater than 60,000 and class A counties to appoint committees to determine the requirements of the ordinance impact study

The committees will be comprised of representatives of builders and contractors, municipal land use staff, homeowners, affordable housing specialists, realtors, appraisers, financial institutions, environmental organizations and the Department of Finance and Administration.

 

The proposed new sections of the Municipal Code are repealed effective July 1, 2013.

 

FISCAL IMPLICATIONS

 

The governmental entities impacted by Senate Bill 411 will bear the costs of the ordinance impact studies every five years.  The personnel or consulting costs of the study are unknown at this time.

 

OTHER SUBSTANTIVE ISSUES

 

According to MFA, Senate Bill 411 should provide an objective view of housing in the affected communities and an opportunity for community leaders to “right” the course of housing, as perceived by the required studies.

 

LMK/yr