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 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	Vigil		DATE TYPED	02/10/04		HB	335/aHEC
SHORT TITLE		NM Highlands Employee Salary Increases				SB
					ANALYST		Williams/Baca

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	$4,640.0			Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Duplicates Senate Bill 286

Relates to Appropriation in the General Appropriation Act

SOURCES OF INFORMATION

LFC Files

Commission on Higher Education

SUMMARY

Synopsis of House Education Amendment

The House Education Committee amendment reduces the appropriation to $4,640 million from the original $5 million.

Synopsis of Original Bill

House Bill 335 appropriates $5 million from the general fund to the board of regents at New Mexico Highlands University for the purpose of raising employee salaries to achieve equity with other state post-secondary educational institutions.

Significant Issues

CHE notes salaries are considered in the higher education funding formula.

FISCAL IMPLICATIONS

The appropriation of $5 million contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2005 shall revert to the general fund.

AW/yr:dm