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	1/31/04		HB
SHORT TITLE		LFC Staff Funding				SB	453
					ANALYST		Taylor

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
	$2,699.7			Recurring	General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

SUMMARY

Senate Bill 453 appropriates $2,699.7 from the general fund to the Legislative Finance Committee to pay for personal services for staff.

FISCAL IMPLICATIONS

The bill appropriates $2,699.7 in general fund. This appropriation represents a $72.9 thousand, or 2.8 percent, increase over the FY04 operating budget personal services budget of $2,626.8.

SUBSTANTIVE ISSUES

The additional funds would pay for increased insurance costs and the full-year costs associated with the 3 percent salary increase provided to state employees in the FY04 budget.

The appropriation does not include funding for additional personal staff.

BT/lg:yr