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.
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 in
SPONSOR: |
|
DATE TYPED: |
|
HB |
434 |
||
SHORT TITLE: |
|
SB |
|
||||
|
ANALYST: |
Padilla |
|||||
APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
||
FY03 |
FY04 |
FY03 |
FY04 |
|
|
|
$100.0 |
|
|
Non-recurring
|
General
Fund |
|
|
|
|
|
|
(Parenthesis
( ) Indicate Expenditure Decreases)
LFC Files
Responses
Received From
Department
of Finance and Administration
SUMMARY
Synopsis
of Bill
House Bill 434 appropriates $100.0 from the general fund
to DFA’s Local Government Division for the purpose of surveying low-income
housing needs in
Significant
Issues
The bill stipulates that a seven-member advisory
committee from Chaves County, including five low-income housing activists and
two county government officials, would work with the Local Government division
to perform the survey.
The New Mexico Mortgage Finance Authority, in
partnership with the Local Government Division, takes leadership for affordable
housing issues in
FISCAL IMPLICATIONS
The appropriation of $100.0 contained in this
bill is a non-recurring expense to the general fund. The study called for in the bill would
presumably be conducted only once. Any
unexpended or unencumbered balance remaining at the end of fiscal year 04 shall
revert to the general fund.
ADMINISTRATIVE IMPLICATIONS
DFA believes the bill does not provide adequate
funding to the Local Government Divison to carry out the intent of this bill.
POSSIBLE QUESTIONS
1. Are there other types of funds available for the purpose of a housing survey? Could Community Development Block Grant funds be used for this type of planning tool?
LP/yr