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	Campos		DATE TYPED	02/10/04		HB	HM 19
SHORT TITLE		Forte Sumner Irrigation Dam Debt & Title				SB
					ANALYST		Maloy

APPROPRIATION

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

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of Bill

House Memorial 19 states:

• Fort Sumner Irrigation District is in the process of retiring its debt to the Federal Bureau of Reclamation for the Fort Sumner Diversion Dam.

• Terms of applicable contracts require a call for congressional action to return the title for the dam upon retirement of the debt.

• It is important to New Mexico’s economy to have such titles returned.

House Memorial 19 resolves Congress be requested to return the title of the diversion dam to the Fort Sumner Irrigation District upon retirement of the debt.

FISCAL IMPLICATIONS

The memorial does not state how much is owed to the Federal Bureau of Reclamation for the Fort Sumner division dam. How much remains to be paid, or is the debt paid in full at this time? If a portion of the debt remains to be paid, how long will it take to pay the remaining amount due?

ADMINISTRATIVE IMPLICATIONS

Does the request for return of the title have to come from the Legislature, the Executive, or the local irrigation district (Fort Sumner)?

SJM/dm:lg