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:

Ponce

 

DATE TYPED:

2/19/03

 

HB

685/aHTRC

 

SHORT TITLE:

Increase Fees Collected by Secretary of State

 

SB

 

 

 

ANALYST:

Collard

 

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

See Narrative

 

Recurring

General Fund

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

Secretary of State

 

SUMMARY

 

     Synopsis of HTRC Amendment

 

The House Taxation and Revenue Committee deletes the entire subsection G, regarding to computer print outs of Uniform Commercial Code records.

 

     Synopsis of Original Bill

 

House Bill 685 amends Section 8-4-4 NMSA 1978 to allow the Secretary of State’s office to increase the following fees:

 

·       Fifty cents per page for photocopies,

·       Five dollars for each certification,

·       Five dollars for the filing of each official oath,

·       Five dollars per duplicate commission of office or certificate, and

·       Thirty-five dollars for service of process where another fee is not prescribed.

 

    


     Significant Issues

 

Fees that were not changed include

 

·       Ten dollars for a search of records where another fee is not prescribed,

·       One dollar per page for a computer printout of Uniform Commercial Code records, and

·       Ten cents per record for computer generated records other than voter registration records.

Additionally, the fees included in this bill have not been increased since 1993.

 

FISCAL IMPLICATIONS

 

The fee collection contained in this bill is recurring revenue to the state treasurer for credit to the general fund. The Secretary of State estimates that it will collect an additional $28.4 annually as a result of the enactment of this bill.

 

TECHNICAL ISSUES

 

The Secretary of State recommends deleting item G from the bill as this service should not require a charge.

 

KBC/njw:yr