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

SPONSOR Robinson

DATE TYPED 3/5/05

HB

SHORT TITLE Albuquerque Sports Event

SB 557

ANALYST Hadwiger

APPROPRIATION

(in $000s)

Appropriation Contained Estimated Additional Impact Recurring

or Non-Rec

Fund

Affected

FY05

FY06

FY05

FY06

$150.0

Non-Recurring General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Department of Finance and Administration (DFA)

SUMMARY

Synopsis of Bill

Senate Bill 557 appropriates $150,000 from the general fund to the Department of Finance and

Administration (DFA) for the purpose of supporting the City of Albuquerque in hosting the

United States and Spanish national rugby teams in a sports event.

Significant Issues

The appropriation contained in this bill would be used to hold an international sports event in

Albuquerque. The bill could have positive impacts on tourism and economic development. The

general objective of the bill is consistent with the efforts of the Sports Authority to attract more

major sports events to New Mexico venues.

FISCAL IMPLICATIONS

The appropriation of $150,000 contained in this bill is a non-recurring expense to the general

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

the general fund.

ADMINISTRATIVE IMPLICATIONS

DFA would administer the funds under a memorandum of understanding with the City of Albu-

querque. DFA it would require no additional staff to administer the appropriation.

DH/lg