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	Cisneros		DATE TYPED	2/6/04		HB
SHORT TITLE		UNM – Taos Miner Training Program				SB	445
					ANALYST		Baca

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	$300.0			Recurring	General Fund

(Parenthesis ( ) Indicate Revenue Decreases)

Relates to Appropriation in the General Appropriation Act

SOURCES OF INFORMATION

LFC Files

Commission on Higher Education Funding Recommendations for FY05 (CHE)

SUMMARY

Synopsis of Bill

Senate Bill 445 appropriates $300.0 thousand from the general fund to the Board of Regents of the University of New Mexico to develop training programs for manpower development of miners in northern New Mexico at the Taos branch campus.

Significant Issues

Historically, Taos County has been listed among the economically depressed counties of New Mexico. The opening of the molybdenum mine in Questa afforded employment opportunities with reasonably high paying wages. The mine, however, has opened and closed several times as dictated by the price and demand for molybdenum world wide. These fluctuations in the business cycle haves created unemployment and forced miners to seek other occupations. The latest closing of the mine in Questa left many miners unemployed. The funding in this proposal will provide training opportunities for some of these displaced workers.

FISCAL IMPLICATIONS

The appropriation of $300 thousand contained in this bill is a recurring expense to the general fund. Any unexpended or unencumbered balance remaining at the end of FY05 shall revert to the general fund.

OTHER SUBSTANTIVE ISSUES

In the interest of accountability, the institution receiving the appropriation in this bill shall submit a program evaluation to the Legislative Finance Committee and the Commission on Higher Education by August 2007 detailing the benefits to the State of New Mexico from having implemented this program.

This request was not among those submitted for FY05 funding by the UNM Board of Regents to the CHE. Consequently, the Commission did not review it.

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