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SPONSOR: |
HAFC |
DATE TYPED: |
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HB |
935/HAFCS |
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SHORT TITLE: |
Financial |
SB |
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ANALYST: |
Weber |
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APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
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FY03 |
FY04 |
FY03 |
FY04 |
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See Narrative |
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(Parenthesis
( ) Indicate Expenditure Decreases)
Responses
Received From
Human
Services Department
Office
of Economic Development
SUMMARY
Synopsis
of Bill
House Bill 935/HAFCS (HB 935/HAFCS) cites
problems associated with
Significant
Issues
Under HB 935/HAFCS, the Task Force for Financial
Independence would be headed by the Lieutenant Governor and be composed of 15
members. Members shall be appointed by
the Governor from the following entities: New Mexico Mortgage Authority, New
Mexico Bankers Association, Independent Community Bankers Association of New
Mexico, New Mexico Credit Union League, New Mexico Community Foundation, State
Department of Education, Human Services Department, Economic Development
Department, New Mexico Small Business Development Center, Department of Labor,
Hispano Chamber of Commerce, Bureau of Business and Economic Research at the
University of New Mexico, New Mexico Small Business Investment Corporation,
health care industry, Legislators on the Interim Economic and Rural Development
and Telecommunications Committee, Legislators serving on other appropriate
committees and not-for-profit organizations that promote asset building with
low-income populations.
The Task Force shall identify and explore
current and proposed strategies in order to foster financial independence and
asset accumulation. The Task Force shall
pursue the most viable strategies that will have the greatest impact on
financial independence. The Task Force
shall develop suggestions consistent with the current highly restrictive State
budget environment, exploring strategies in the areas of asset facilitation, asset
incentives, and asset protection. The
Task Force shall seek private sector funding in preparing Task Force reports
and shall collaborate with other state and national financial independence task
forces in formatting research compatible with national evaluation methods.
FISCAL IMPLICATIONS
Task force members are
to be paid per diem and mileage as provided by the Per Diem and Mileage Act for
non-salaried public officers. HB 935/HAFCS
does not contain an appropriation or identify a source to pay these expenses.
MW/yr:njw