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
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The
most recent FIR version (in HTML & Adobe PDF formats) is available on the
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SPONSOR: |
Smith |
DATE
TYPED: |
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HB |
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SHORT
TITLE: |
Objectives
for State Investment Officer |
SB |
779/aSCORC/aHAFC/aHFl
#1 |
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ANALYST: |
Neel |
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REVENUE
Estimated Revenue |
Subsequent Years Impact |
Recurring or
Non-Rec |
Fund Affected |
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FY03 |
FY04 |
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NFI |
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(Parenthesis
( ) Indicate Revenue Decreases)
Responses
Received From
SIC
SUMMARY
Synopsis
of HFl #1 Amendment
Synopsis
of HAFC Amendment
The House Appropriations and Finance Committee amendment reduces the percent of the Severance Tax Permanent Fund (STPF) that can be invested in New Mexico Private Equities from 8 percent to six.
Synopsis of SCORC Amendment
The
Senate Corporations and Transportation Committee amendment makes the following
substantive changes:
Synopsis of Original Bill
SB-779 raises the limit on investments in
The bill eliminates restrictions on the dollar
amount that may be committed to any one fund or business and eliminates the
restriction on the minimum committed capital size of a
OTHER
SUBSTANTIVE ISSUES
POSSIBLE QUESTIONS
SB 779 allows the State Investment Officer to make investments in
The New Mexico Department of Economic development has in the past
directly invested in
SN/njw:yr