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

Whitaker

DATE TYPED

2-9-04

HB

546

 

SHORT TITLE

Amend Property Tax Code

SB

 

 

 

ANALYST

Reynolds-Forte

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY04

FY05

FY04

FY05

 

 

 

 

 

NFI

 

 

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

LFC Files

 

SUMMARY

 

Synopsis of Bill

 

House Bill 546 changes language in the Property Tax Code; the word regulation is changed to rules in Section 73-35-4 NMSA 1978.

 

      Significant Issues

 

The American College Dictionary defines regulation as a rule or order and defines rule as a principle or regulation; therefore, these terms seem to be interchangeable.

 

FISCAL IMPLICATIONS

 

House Bill 546 has no fiscal impact. 

 

 

 

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