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	Maes		DATE TYPED	1/24/04		HB
SHORT TITLE		Manufacturing Extension Services				SB	35
					ANALYST		Collard

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
$400.0				Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Response Received From

Economic Development Department

SUMMARY

Synopsis of Bill

Senate Bill 35 appropriates $400 thousand from the general fund to the Economic Development Department for the purpose of contracting for manufacturing extension services, contingent upon the receipt of money from the National Institute of Standards and Technology to operate an approved manufacturing center in New Mexico. This bill contains an emergency clause.

FISCAL IMPLICATIONS

The appropriation of $400 thousand 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. It should be noted the National Institute of Standards and Technology supports the manufacturing extension service network and provides funds at a one-third match.

OTHER SUBSTANTIVE ISSUES

The department notes $300 thousand was appropriated in FY03 for use in FY03 and FY04. The department indicates this was a sufficient amount.

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