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:

Begaye

 

DATE TYPED:

02/03/03

 

HB

238

 

SHORT TITLE:

Four Corners Monument and Park for Visitors

 

SB

 

 

 

ANALYST:

Weber

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

$500.0

 

 

Non-recurring

General Fund

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

$2,500.0

 

Non-recurring

Federal Funds

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

Office of Indian Affairs

 

SUMMARY

 

     Synopsis of Bill

 

House Bill 238 appropriates $500,000 from the General Fund to the Office of Indian Affairs to plan, design and construct a Four Corners monument in San Juan County. 

 

     Significant Issues

 

The Office of Indian Affairs reports the bill is tied with federal appropriations.  A federal act appropriates a total of $2.5 million toward the project while requiring each of the four states to contribute $500,000 in matching funds.  The total amount of the project is $4.5 million.

Until each state makes its contribution, the project cannot start.  To date, New Mexico is the only state of the four that has not made a contribution.

FISCAL IMPLICATIONS

 

The appropriation of $500.0 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 2004 shall revert to the General Fund.

 

MW/sb/ls