Fiscal impact reports (FIRs) are prepared by the Legislative Finance Committee (LFC) for standing finance committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports if they are used for other purposes.

Current FIRs (in HTML & Adobe PDF formats) are available on the NM Legislative Website (legis.state.nm.us). Adobe PDF versions include all attachments, whereas HTML versions may not. Previously issued FIRs and attachments may also be obtained from the LFC in Suite 101 of the State Capitol Building North.

F I S C A L I M P A C T R E P O R T

SPONSOR	Stell		DATE TYPED	2/1/2004		HB	324
SHORT TITLE		Natural Resource Recovery Task Force				SB
					ANALYST		Aguilar

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	$150.0			Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Duplicates SB393

Relates to SB344

SOURCES OF INFORMATION

LFC Files

Responses Received From

Commissioner of Public Lands (SLO)

SUMMARY

Synopsis of Bill

House Bill 324 appropriates $150 thousand to the State Land Office from the general fund to carry out the duties of the natural resource revenue recovery task force.

Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall revert to the general fund.

Significant Issues

The natural resource revenue recovery task force was established by the 2003 legislature. The task force is charged with the review and analysis of historic and current prices received by producers and to review and evaluate federal laws affecting agriculture and extraction industries. Those laws include the Agriculture Adjustment Act and the National Industrial Recovery Act. Further, the task force is charged with assessing the relationship of those federal laws with the Treaty of Guadalupe Hidalgo, Kearny’s Code and Private Property Rights. Upon review, the task force is directed to define the economic impact of the laws and recommend to the legislature policies to counteract negative affects. SLO was designated to provide administrative support, however the enabling legislation did not provide an appropriation to support the efforts of the task force.

FISCAL IMPLICATIONS

The appropriation will provide necessary resources to the task force to enable them to carry out the legislative intent.

RELATIONSHIP

Senate Bill 344 appropriates $65 thousand for the same purpose.

PA/yr