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 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	Smith		DATE TYPED	2-04-04		HB
SHORT TITLE		Tax Recovery Contingent Fee Contracts				SB	469
					ANALYST		Reynolds-Forte

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY04	FY05	FY04	FY05
			NFI

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Response Received From

Taxation and Revenue Department

SUMMARY

Synopsis of Bill

Senate Bill 469 amends present law that permits the Department or the Attorney General to contract with outside attorneys in other states to recover taxes due to New Mexico. The proposed amendments would permit the contractor to subcontract with members of the New Mexico bar, if representation within the state is required, on a contingency basis.

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