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

Jennings

DATE TYPED

2/1/2004

HB

 

 

SHORT TITLE

Natural Resource Recovery Task Force

SB

344

 

 

ANALYST

Aguilar

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY04

FY05

FY04

FY05

 

$65.0

 

 

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

 

Relates to HB324

 

SOURCES OF INFORMATION

LFC Files

 

Responses Received From

Commissioner of Public Lands (SLO)

 

SUMMARY

 

Synopsis of Bill

 

Senate Bill 344 appropriates $65 thousand to the State Land Office from the general fund to conduct business and address legislative mandates of the natural resource revenue recovery task force.

 

Any unexpended or unencumbered balance remaining at the end of fiscal year 2005 shall revert to the general fund.

 

Significant Issues

 

The natural resource revenue recovery task force was established by the 2003 legislature.  The task force is charged with the review and analysis of historic and current prices received by producers and to review and evaluate federal laws affecting agriculture and extraction industries. Those laws include the Agriculture Adjustment Act and the National Industrial Recovery Act. Further, the task force is charged with assessing the relationship of those federal laws with the Treaty of Guadalupe Hidalgo, Kearny’s Code and Private Property Rights. Upon review, the task force is directed to define the economic impact of the laws and recommend to the legislature policies to counteract negative affects. SLO was designated to provide administrative support, however the enabling legislation did not provide an appropriation to support the efforts of the task force.

 

FISCAL IMPLICATIONS

 

The appropriation will provide necessary resources to the task force to enable them to carry out the legislative intent.

 

RELATIONSHIP

 

House Bill 324 appropriates $150 thousand for the same purpose.

 

 

PA/yr