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
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also be obtained from the LFC in
SPONSOR |
SFC |
DATE TYPED |
|
HB |
|
||
SHORT
TITLE |
|
SB |
CS399/aSFl#1 |
||||
|
ANALYST |
Kehoe/Aguilar |
|||||
APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
||
FY04 |
FY05 |
FY04 |
FY05 |
||
$57,000.0 |
|
|
|
Non-Recurring |
Severance
Tax Bonding Fund |
|
$125,000.0 |
|
|
Recurring |
STB
and SSTB Capacity |
|
$4,000.0 |
|
|
Recurring |
Public
School Capital Outlay Find |
(Parenthesis
( ) Indicate Expenditure Decreases)
Relates to House Bill 393
Conflicts with Senate Bill 372
Conflicts
with appropriation in the General Appropriation Act
LFC Files
Responses
Received From
Public
School Facilities Authority (PSFA)
SUMMARY
Synopsis of SFl
Amendment # 1
Senate Floor Amendment #1 to Senate Finance
Committee Substitute for Senate Bill 399 increases the total amount of sponge
bonds that may be issued in fiscal year 2004 from $49.6 million to $57 million
and changes the purposes for which the bonds may be used. The Amendment also reauthorizes the use of
balances in the public school capital outlay fund and extends the period of
time for expending the funds through 2007.
Significant Issues
The Amendment authorizes the issuance of sponge
bonds in an amount not to exceed $57 million and increases the uses for which
the bond proceeds may be used. These
uses are:
1.
Completing projects that have been
partially funded by the Public School Capital Outlay Council (PSCOC) in
September 2003 pursuant to the Public School Capital Outlay Act; and
2.
Making awards of grant assistance for
correcting deficiencies pursuant to the Public School Capital Outlay Act.
Information provided to the Public School
Capital Outlay Task Force by the Public Schools Facilities Authority estimate
that $106 million is needed to complete deficiencies correction statewide and
$65 million to complete those projects partially funded by the PSCOC in September
2003.
The Amendment makes technical changes to
language relating to the bond issue.
The Amendment also reauthorizes the use of
balances from the appropriation made from the general fund to the public school
capital outlay fund to carry out provisions of the Public School Capital Outlay
Act and extends the time in which it may be expended through 2007.
Any unexpended or unencumbered balance remaining
at the end of fiscal year 2007 shall not revert but shall be used for the
purpose of providing grant assistance pursuant to the Public School Capital
Outlay Act.
Synopsis of Original Bill
Senate Finance Committee Substitute for Senate
Bill 399 authorizes supplemental severance tax bonds for public school capital
outlay projects; establishes funding priorities and provides provisions for the
grants and awards process; provides funding and other provisions for charter
schools; provides for action against school districts for constitutional
violations; continues the Public School Capital Outlay Task Force; amends the
Technology for Education Act; increases the state distribution and provides for
an inflation factor; changes the membership of the Public School Capital Outlay
Council and provides for an appeal process.
Significant Issues
SFCS 399
proposes that the amount of severance tax revenues that can be used to support
SSTB be increased from 37.5 percent to 45 percent, thereby providing additional
capacity in years when revenues are rising due to high oil and natural gas
prices.
The bill authorizes $49.6 million derived from
supplemental severance tax bonds paid from fiscal year 2004 revenues that would
otherwise be transferred to the severance tax permanent fund to be used to fund
the deficiencies correction program administered by PSFA. In addition, the bill extends through fiscal
year 2007, the period of time in which the PSFA may expend the appropriation
made from the general fund to the public school capital outlay fund for
deficiencies corrections. According to
PSCOTF, approximately $106 million is needed to complete the deficiency projects.
SFCS 399 also authorizes balances in
the public school capital outlay fund to be annually appropriated to pay for
the core administrative functions of the (PSFA) and further authorizes balances
in the fund to be expended by PSFA, with the approval of PSCOC, for project
management expenses. These expenses may
not exceed five percent of the average annual grant assistance authorized from
the fund during the three previous fiscal years. It should be noted that funding for PSFA has
been included in the 2004 General Appropriation Act passed by the legislature.
Senate Bill 399 amends the Public School Capital
Outlay Act to provide for the following
·
the state guarantee
amount for SB 9 is increased from $50.00 per unit per mill to $60.00 per unit
per mill beginning in fiscal year 2005.
Thereafter, both the guarantee amount and minimum state contribution of
$5.00 per unit per mill are indexed to inflation. The increase is expected to provide
approximately $10 million a year in additional state funds for maintenance in
fiscal year 2005 and to protect the level of state funding over time from
erosion due to normal growth in assessed valuations (see attachment- SB9 calculations);and
·
authorizes
PSFA to purchase and own portables in order to loan the portable to districts
to meet temporary requirements.
Other general provisions of the bill propose the
following:
FISCAL IMPLICATIONS
The increased use of
severance tax revenues to support supplemental severance tax bonds will reduce
the amount of money transferred into the severance tax permanent fund on an
annual basis. However, the task force
feels this must be weighted against the scarce resources available to the state
for public schools and other state and local infrastructure needs.
ADMINISTRATIVE IMPLICATIONS
SFCS 399 shifts the responsibilities of
distributing PSCOC funds from the Public Education Department (PED) to
PSFA. It should be noted that school
districts have been confused by the administrative changes that have taken
place in the last couple of years.
According to PED, changing the process could further confuse the
districts. According to PSFA, they may
not have the necessary resources to hire additional FTE to adequately process
and account for all of the funds in awards and reimbursements made annually by
PSCOC.
This bill makes reference to a new
standards-based process. The process is
currently being refined, but has not been approved and adopted by PSCOC as of
this writing.
CONFLICT and RELATIONSHIP
The SFCS conflicts
with Senate Bill 372 that proposes the chairman of the Senate Education
Committee and chairman of the House Education Committee or their designees
serve on PSCOC in lieu of the directors of the Legislative Education Study
Committee (LESC) and the Legislative Council Service (LCS). The bill expands the membership to include
two public members appointed by the governor.
One public member shall have expertise in public finance and the other
shall be licensed by the Construction Industries Commission “to
construct.” The bill also changes the
title of two members to conform with the recently passed Amendment 1 to Article
12, Section 6 of the Constitution of New Mexico creating a public education
commission and a secretary of the department of education. The title “superintendent” is changed to the “secretary
of public education,” and “the president of the state board” is changed to “a
member of the public education commission,” appointed by the governor. The bill changes the membership of PSCOC to
conform with the recently passed Amendment 1 to Article
12, Section 6 of the Constitution of New Mexico creating a public education
commission and a secretary of the department of education, and adds the
president of the New Mexico Superintendents’ Association as a tenth
member.
The 2004 General
Appropriation Act recently passed by the legislature appropriates $3,683,600
from the public school capital outlay fund and authorizes 37 FTE for the core
administrative functions and field management expenses of PSFA.
TECHNICAL ISSUES
The provisions in this
bill for imposing taxes on recalcitrant districts may pose constitutional issues. Article 8, Section 2 of the Constitution of
New Mexico establishes property tax limits, whereas “laws may be passed authorizing
additional taxes” when approved by the voter.
OTHER SUBSTANTIVE ISSUES
The Public School
Capital Outlay Task Force was created in part in response to the Zuni lawsuit,
filed in January 1998, which challenged the constitutionality of the state's
process for funding public school capital outlay in the state that was in
effect at the time. In 1999, the judge of
the eleventh judicial district court found that the state was in violation of
the uniformity clause of the
Laws of 2001, Chapter
338 enacted various recommendations of the task force. The legislation established a framework for
public school capital outlay and provided one hundred percent state funding for
correcting health and safety deficiencies at all public schools in New Mexico,
continued funding of the backlog of critical capital outlay needs of school districts
that had capped their own resources for public school capital improvements; and
implemented a long-term public school capital improvement process beginning
September 1, 2003 that guarantees all school districts an adequate physical
space, adequate educational suitability and adequate technological
infrastructure. The legislation also
increased the funding for maintenance and repair of schools so that the state
investment in school facilities is safeguarded.
Finally, it established a permanent revenue source for public school
capital outlay using supplemental severance tax bonds.
PA/dm:yr