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	Silva		DATE TYPED	2/9/2004		HB	515
SHORT TITLE		Mid Region Council Transportation Services				SB
					ANALYST		Valenzuela

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	$75.0			Non-recurring	General fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

SUMMARY

Synopsis of Bill

House Bill 515 appropriates $75 thousand from the general fund to New Mexico Department of Transportation to study a coordinated system within the mid-region council of governments for providing specialized transportation services funded with public dollars.

Significant Issues

The mid-region council of governments is the lead for the regional transit district that has formed in the Albuquerque metropolitan area. Though NMDOT did not provide a bill analysis, the appropriation likely will be used to study opportunities to improve public transit system in this area. In fact, Governor Richardson appropriated $2 million from the federal flexible grant funding (i.e., federal tax cut, which provided $60 million to New Mexico) and will appropriate $6 million from the Governor Richardson Investment Partnership (GRIP) for commuter rail and multimodal projects within the area.

FISCAL IMPLICATIONS

The appropriation of $75 thousand contained in this bill is a non-recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of FY05 shall revert to the general fund.

MFV/njw