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

1/26/04

HB

 

 

SHORT TITLE

Development Training Programs

SB

52

 

 

ANALYST

Collard

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY04

FY05

FY04

FY05

$20,000.0

 

 

 

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

 

Relates to HB 7

 

SOURCES OF INFORMATION

 

LFC Files

 

No Response Received

Economic Development Department

 

SUMMARY

 

Synopsis of Bill

 

Senate Bill 52 appropriates $20 million from the general fund to the Economic Development Department for the purpose of executing the Job Training Incentive Program, more commonly known as in-plant training.  This bill contains an emergency clause.

 

Significant Issues

 

It should be noted the Economic Development Department was appropriated $7 million from the general fund and $2 million from Temporary Assistance for Needy Families block grant in FY04.  At a recent subcommittee hearing, the department reported a balance of $12.5 million, and will end the fiscal year with $4-6 million in the development training fund.  Additionally, the executive is recommending a special appropriation of $8 million to the department for the Job Training Incentive Program for FY05.

 

 

 

FISCAL IMPLICATIONS

 

The appropriation of $20 million contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of FY05 shall not revert to the general fund.

 

ADMINISTRATIVE IMPLICATIONS

 

This bill does not contain any administration dollars.

 

RELATIONSHIP

 

This bill relates to House Bill 7, which appropriates $25 million for executing and administering the Job Training Incentive Program.

 

KBC/dm