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F I S C A L I M P A C T R E P O R T

SPONSOR Lujan

DATE TYPED 2/18/05

HB 836

SHORT TITLE Espanola Economic Development Plan

SB

ANALYST Hadwiger

APPROPRIATION

(in $000s)

Appropriation Contained Estimated Additional Impact Recurring

or Non-Rec

Fund

Affected

FY05

FY06

FY05

FY06

$75.0

Recurring General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Relates to SB753 and HB811.

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of Bill

House Bill 836 appropriates $75,000 from the general fund to the Department of Finance and

Administration to produce an economic development master plan for the city of Espanola.

Significant Issues

Typically, an economic development master plan addresses economic development issues and

establishes a strategy for marketing, tourism, business retention and expansion. The master plan

would guide and advance economic development efforts in Espanola.

FISCAL IMPLICATIONS

The appropriation of $75,000 contained in this bill is a recurring expense to the general fund.

Any unexpended or unencumbered balance remaining at the end of FY06 would revert to the

general fund.

DH/yr