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	Altamirano		DATE TYPED	02/9/04		HB
SHORT TITLE		Create NM Government Education Fund				SB	56
					ANALYST		Segura

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05	Recurring or Non-Rec	Fund Affected
	$50.0			Recurring	GF

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

New Mexico Public Education Department (PED)

SUMMARY

Synopsis of Bill

Senate Bill 56 creates the New Mexico Education Fund to consist of appropriations by the legislature, gifts, grants and donations. The fund is to be administered by PED.

Significant Issues

Senate Bill 56 directs the PED to contract for services to support an annual high school civics program focusing on New Mexico state government for boys and girls. This would be a weeklong program and housed at an institution of higher learning.

FISCAL IMPLICATIONS

Senate Bill 56 appropriates $50.0 from the general fund and is recurring.

ADMINISTRATIVE IMPLICATIONS

PED would administer the funding and monitor the program results.

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