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	Park		DATE TYPED	1/28/04		HB	213
SHORT TITLE		Fair Concession Contracts & Procurement Code				SB
					ANALYST		Wilson

REVENUE

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	$35.0		See Narrative	Recurring	OSF

SOURCES OF INFORMATION

LFC Files

Responses Received From

EXPO New Mexico (State Fair)

SUMMARY

Synopsis of Bill

House Bill 213 excludes concession contracts at EXPO New Mexico (State Fair) from the provisions of the Procurement Code.

Significant Issues

According to the EXPO New Mexico staff, the provisions of this bill enhance their ability to generate enterprise revenue funds and provide for easier application of equitable rent rates to vendors, particularly those involved at the annual event, the EXPO New Mexico.

FISCAL IMPLICATIONS

Revenue amounts generated through the rental of concession space will be increased. Rates applied to “space” will be valued at a market rate, which will result in increases in concession revenue because of vendor space size or quality.

ADMINISTRATIVE IMPLICATIONS

Reducing the requirement to bid contracts over $10,000 for concession contracts will save administrative work for the State Fair staff.

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