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SPONSOR: |
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DATE TYPED: |
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HB |
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SHORT TITLE: |
Metro Court Financing |
SB |
584/aSFC |
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ANALYST: |
Hayes |
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APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
||
FY03 |
FY04 |
FY03 |
FY04 |
|
|
$3.9
million |
|
|
|
Nonrecurring |
BCMC/Other
State Funds |
|
|
|
|
|
|
(Parenthesis
( ) Indicate Expenditure Decreases)
Conflicts with SB 820
REVENUE
Estimated Revenue |
Subsequent Years Impact |
Recurring or
Non-Rec |
Fund Affected |
|
FY03 |
FY04 |
|
|
|
$3.9
million |
|
|
Nonrecurring |
Special
Bond Fund |
|
|
|
|
|
(Parenthesis ( ) Indicate Revenue Decreases)
Responses
Received From
Administrative
Office of the Courts (AOC)
SUMMARY
Synopsis
of SFC Amendments
The Senate Finance Committee deletes reference
on the title page to authorizing
a transfer of funds, plus deletes language in Section 2,
page 4, which described a transfer from the warrant enforcement fund to the
court facilities fund along with an appropriation. Both transactions are now eliminated from the
bill.
The other major amendment to SB 584 in
subsection A changes the amount of bonds that the New Mexico Finance Authority
may sell and issue for the purpose of financing the new court building for the
Bernalillo County Metropolitan Court from five million
to three million nine hundred thousand dollars ($3,900.000).
In addition, the SFC amendment strikes the first
four lines of subsection A (lines 22-25) discussing court facilities fees
imposed.
The remaining amendments are technical changes
to the bill.
Synopsis
of Original Bill
Section 1 of Senate
Bill 584 amends Section 34-9-16 NMSA 1978 to:
1) increase the metropolitan court facilities fee from $14.00 to $24.00;
and 2) to direct the New Mexico Finance Authority (NMFA) to issue and sell an
additional $5 million in revenue bonds after January 1, 2003 for the purpose of
continuing to finance the design and construction of a new court building for
the Bernalillo County Metropolitan Court in Albuquerque.
Section 2 of Senate
Bill 584 transfers $300.0 from the metropolitan court warrant enforcement fund
to the court facilities fund for expenditure in fiscal year 2003 and subsequent
years in accordance with the provisions of Section 34-9-14 NMSA 1978 to pay for
the increased debt service.
The bill contains an
emergency clause so that this act may take effect immediately.
Significant Issues
Section 1:
Costs for the new
courthouse have escalated and are estimated to be $10 million over their
original projection due to the inflated construction market in
Section 2:
FISCAL IMPLICATIONS
The appropriation of
$300.0 contained in this bill is a recurring transfer from the metropolitan
court warrant enforcement fund to the court facilities fund.
CONFLICT
SB 820 directs the New
Mexico Finance Authority to issue and sell revenue bonds in an amount not
exceeding $5 million for a new courthouse for the Dona Ana county magistrate
court.
TECHNICAL ISSUES
Note: BCMC is proposing an amendment to this
bill which allows the court to use funding from the Magistrate and Metropolitan
Court Facilities Fund to pay the increased debt service instead of the $300.0
from the warrant enforcement fund.
OTHER SUBSTANTIVE ISSUES
Revenue bonds are paid
with court facilities fees which are assessed and collected by the courts. Any fluctuation in the assessment and
collection of these fees may have an adverse effect on paying the committed
debt service payments.
CMH/yr:sb