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	Herrera		DATE TYPED	02/04/04		HB	472
SHORT TITLE		Grant County Transportation Program				SB
					ANALYST		Johnson

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05	Recurring or Non-Rec	Fund Affected
	$30.0			Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

No Response Received From

Department of Transportation

Department of Finance and Administration

SUMMARY

Synopsis of Bill

House Bill 472 appropriates $30,000 from the general fund to the department of finance and administration to support Grant county transportation application for federal funds to maintain the county’s transportation program.

Significant Issues

Grant county is in the process of organizing a regional transit district. The county may use this appropriation to further develop this proposal and seek matching federal funds or local gross receipts.

FISCAL IMPLICATIONS

The appropriation of $30.0 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 shall revert to the general fund.

RELATIONSHIP

Possible relationship to HB231 and SB462, which give authority to regional transit districts to impose local gross receipts tax for public transit projects.

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