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	Ponce		DATE TYPED	2/4/04		HB	432
SHORT TITLE		Increase Secretary of State Fees				SB
					ANALYST		Collard

REVENUE

Estimated Revenue		Subsequent Years Impact	Recurring or Non-Rec	Fund Affected
FY04	FY05
	$114.7		Recurring	General Fund

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Secretary of State

SUMMARY

Synopsis of Bill

House Bill 432 proposes to increase certain fees collected by the Secretary of State.

Significant Issues

The Secretary of State indicates this will allow for additional revenues to be generated for the general fund. There has not been an increase in fees for this agency since 1993.

FISCAL IMPLICATIONS

If the fees are increased as proposed in the bill, the revenue to the general fund will be $114,747 annually.

KBC/prr