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 a vailable 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 Picraux
DATE TYPED 2/10/05
HB 336/aHBIC
SHORT TITLE Local Option Quality of Life Gross Receipts
SB
ANALYST Taylor
REVENUE
Estimated Revenue
FY05
FY06
Subsequent
Years Impact
Recurring
Or Non-Rec
Fund
Affected
Indeterminate Indeterminate
Indeterminate
Recurring
Local Funds
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC Files
Taxation and Revenue Department (TRD)
For the Economic and Rural Development and Telecommunications Committee
SUMMARY
Synopsis of HBIC amendments
The House Business and Industry Committee amended the bill in the following way:
1.
Minor changes are made to provisions governing the use of revenue for a class A county
with a population of more than 250 thousand (Bernalillo County): a) new language al-
lows one to three percent of revenue may be used “public education on the use of reve-
nue” where before the amendment this revenue could be used for marketing cultural pro-
grams, events and activities; b) 3 to 5 percent of revenue may dedicated to the “admini-
stration of revenue; before this read administration.
2.
A new provision is provided pertaining to the use of revenues in the municipality (Albu-
querque); it would allow a portion of the funds allocated for the purpose of enhancing
cultural programs and activities to be spent on an operating agreement with an organiza-
tion that operates a facility owned by the municipality.
These amendments do not alter the overall fiscal impact of the bill
Synopsis of original bill
House Bill 336 allows counties to impose “the quality of life gross receipts tax”. The tax must
be enacted by ordinance before January 1, 2016 and may not exceed a period of 10 years. Sub-