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

Altamirano

DATE TYPED

02/09/04

HB

 

 

SHORT TITLE

NM Rural Development Response Council

SB

235

 

 

ANALYST

Williams

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY04

FY05

FY04

FY05

 

 

 

$250.0

 

 

Recurring

General Fund

 

 

 

 

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

LFC Files

 

Responses Received From

New Mexico Department of Agriculture (NMDA)

Economic Development Department

 

No Response Received

Commission on Higher Education

 

SUMMARY

 

Synopsis of Bill

 

Senate Bill 235 appropriates $250 thousand from the general fund to the New Mexico Department of Agriculture for the purpose of funding the New Mexico rural development response council.  Funding would enhance existing services and be used to implement additional program services through rural community development programs.

 

The appropriation would be used to obtain federal matching funds. 

 

Significant Issues

 

NMDA notes the rural development response council was conceived in 1992.  Federal funding of approximately $500 thousand would be available from an economic development authority grant.

 

Economic Development Department notes “the funds should continue to flow to the NM Economic Development Department”. 

 

FISCAL IMPLICATIONS

 

The appropriation of $250 thousand 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 would revert to the general fund. 

 

 

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