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

Lujan

DATE TYPED

2/7/04

HB

545

 

SHORT TITLE

Replacement Labor Dept. Building Funding

SB

 

 

 

ANALYST

Collard

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY04

FY05

FY04

FY05

 

See Narrative

 

 

Non-Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

 

Companion to HJR 12

 

SOURCES OF INFORMATION

LFC Files

 

Responses Received From

New Mexico Labor Department (NMDOL)

 

No Response

General Services Department

 

SUMMARY

 

Synopsis of Bill

 

House Bill 545 provides that the proceeds from the sale of the Santa Fe NMDOL office at 301 West DeVargas be appropriated to the property control division of the General Services Department (GSD).  The bill additionally proposes that the money from the sale be used in FY04 through FY08 for acquisition of new land or building, and to plan, design, construct, or renovate a building for a workforce development center for NMDOL in Santa Fe.  The bill contains an emergency clause and is contingent upon the legislature’s approval of the sale of property.

 

FISCAL IMPLICATIONS

 

Although the proceeds from the sale of the property are appropriated to GSD, NMDOL notes sale of the building requires federal approval as the building was purchased with USDOL funds. If equity is involved, NMDOL is required to follow USDOL disposition of equity before final sale is completed, pursuant to federal requirements.

COMPANIONSHIP

 

House Bill 545 is companion to House Joint Resolution 12, which calls for the sale of the property at 301 West De Vargas in Santa Fe.

 

TECHNICAL ISSUES

 

Subparagraph A, on page 2, line 1, reverts the appropriation at the end of FY03.

 

KBC/yr