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	Ingle		DATE TYPED	2/11/04		HB
SHORT TITLE		Acequia Irrigator Drought Compensation				SB	SM 8
					ANALYST		Baca

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	NFI

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of Bill and Significant Issues

Senate Memorial 8 seeks to obtain remedies for some of the disparities created by New Mexico’s prolonged drought and requests that the United States Department of Agriculture (USDA) immediately take action to correct this disparity by:

1. Restore crop insurance eligibility and full coverage as irrigated practice regardless of water use restrictions;
2. Restore full enrollment and base yield updating as irrigated practice regardless of water restrictions;
3. Create a task force to develop a national standard drought standard for irrigated practice and to review and modify existing farm agency and risk management agency regulations; and
4. Take the lead role in advocating crop disaster legislation.

SM 8 also requests that the New Mexico congressional delegation be requested to actively promote and support timely action on this matter and also requests that this memorial be transmitted to the state’s congressional delegation and to the Secretary of the U.S. Department of Agriculture.

RLG/lg