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
|
SPONSOR |
Maes |
DATE TYPED |
|
HB |
|
||
|
SHORT
TITLE |
Economic |
SB |
49 |
||||
|
|
ANALYST |
Collard |
|||||
APPROPRIATION
|
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
||
|
FY04 |
FY05 |
FY04 |
FY05 |
||
|
|
$235.0 |
|
|
Recurring |
General
Fund |
(Parenthesis
( ) Indicate Expenditure Decreases)
Relates
to Appropriation in the General Appropriation Act
LFC Files
Response
Received From
Economic
Development Department
SUMMARY
Synopsis of Bill
Senate Bill 49 appropriates $235 thousand from
the general fund to the Economic Development Department for the purpose of
financing the main street program. This
money would be used for technical services for the program and would make
additional
FISCAL IMPLICATIONS
The appropriation of $235 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
there is $125 thousand in the base budget of Economic Development Program of
the Economic Development Department for this purpose: $65 thousand for
strategic plans, $10 thousand for main street conferences, and $50 thousand for
design. Additionally, the executive
recommends $200 thousand in a special appropriation for this purpose. The Economic Development Department indicates
if the base is fully funded and the special appropriation is approved, this
additional funding is not needed.
KBC/lg:dm