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	Stewart		DATE TYPED	2/5/04		HB	HJM 62
SHORT TITLE		Property Tax Administration & Procedure Study				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 Joint Memorial 62 requests that Taxation and Revenue Department conduct a study of the administrative, reporting and procedural aspects of the Property Tax Code and report its findings and recommendation regarding improvement to the Revenue Stabilization and Tax Policy Committee by December, 2004.

Two copies of the reports are requested to be provided to the Revenue Stabilization Committee and to the Legislative Council Service.

ADMINISTRATIVE IMPLICATIONS

The Taxation and Revenue Department staff will be responsible for conducting the study and preparing the report which will impact current staff workload.

PRF/yr