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

SPONSOR Balderas

ORIGINAL DATE

LAST UPDATED

2/06/06

HB 809

SHORT TITLE Springer Tractor-Trailer Pull Even

SB

ANALYST Earnest

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY06

FY07

$5.0

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Economic Development Department (EDD)

SUMMARY

Synopsis of Bill

House Bill 809 appropriates $5 thousand from the general fund to the Economic Development

Department to promote and advertise a tractor-trailer pull event in Springer, NM.

FISCAL IMPLICATIONS

The appropriation of $5 thousand contained in this bill is a recurring expense to the general fund.

Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall revert

to the general fund.

SIGNIFICANT ISSUES

EDD indicates that Springer has been designated a New Mexico Main Street Program-Satellite

Community. Events that bring people into the community will help promote this initiative. The

legislation would affect a rural region of the state that has identified events such as tractor-trailer

pulls to promote economic development. Springer is trying to establish itself as a destination

stop between the larger communities of Raton and Las Vegas.

BE/yr