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committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports
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F I S C A L I M P A C T R E P O R T
SPONSOR Campos
ORIGINAL DATE
LAST UPDATED
1/29/07
2/13/07 HB 188/aHTRC/aHAFC
SHORT TITLE Renewable Energy Transmission Authority Act
SB
ANALYST Earnest
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
NFI
NFI*
(Parenthesis ( ) Indicate Expenditure Decreases)
*
The executive budget proposal provides a $1 million non-recurring recommendation to establish the
Authority. This bill, however, does not propose any appropriation.
REVENUE (dollars in thousands)
Estimated Revenue
Recurring
Or Non-Rec
Fund
Affected
FY08
FY09
Subsequent Years
0.0
0.0
($1,000.0)
Recurring General Fund*
0.0
0.0
($600.0)
Recurring
Local
Governments*
0.0
0.0
($1,000.0)
Recurring General Fund**
0.0
0.0
($125.0)
Recurring Small Cities
Assistance**
0.0
0.0
($125.0)
Recurring Small Counties
Assistance**
(Parenthesis ( ) Indicate Revenue Decreases)
* Gross Receipts Tax impacts
**Compensating Tax impacts
According to TRD, fiscal impacts of the GRT and compensating tax deductions depend on the
expenditures by the Authority that would otherwise be taxable. Determining this amount is
complicated because (1) it is unclear how quickly the Authority will be able to issue bonds and
begin operations and (2) the Authority is intended to fill a market niche that might not be filled
by private companies who would otherwise pay GRT and compensating tax. According to
officials of EMNRD, there is unlikely to be a significant amount of spending during the next 2 to