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	Robinson		DATE TYPED	01/30/04		HB
SHORT TITLE		Gibson Boulevard Redevelopment Plan				SB	321
					ANALYST		Gilbert

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

SUMMARY

Synopsis of Bill

Senate Bill 321 appropriates $400 thousand from the general fund to the Local Government Division of the Department of Finance and Administration (DFA) for the middle Rio Grande Council of Governments to prepare an infrastructure and redevelopment plan for improving and enhancing job creation along the Gibson Boulevard corridor, including Kirtland Air Force Base, Sandia National Laboratories and the Lovelace area.

FISCAL IMPLICATIONS

The appropriation of $400.0 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. This appropriation also duplicates an appropriation for the same purpose included in the general appropriation act and the executive budget recommendation.

ADMINISTRATIVE IMPLICATIONS

The Local Government Division of DFA is responsible for distributing this appropriation.

RLG/yr