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

SPONSOR Stapleton

ORIGINAL DATE

LAST UPDATED

2/6/2007

HB 484

SHORT TITLE Firefighters’ Survivors Fund Distributions

SB

ANALYST Schuss

REVENUE (dollars in thousands)

Estimated Revenue

Recurring

or Non-Rec

Fund

Affected

FY07

FY08

FY09

$0.1*

$0.1* Recurring Firefighters’

Survivors Fund

($0.1*)

($0.1*) Recurring Motor Vehicle

Suspense Fund

(Parenthesis ( ) Indicate Revenue Decreases)

*Minimal Impact

Relates to HB 377, SB 329

SOURCES OF INFORMATION

LFC Files

Responses Received From

Energy, Mineral, Natural Resources Department (EMNRD)

Did not Respond

Taxation and Revenue Department (TRD)

SUMMARY

Synopsis of Bill

House Bill 484 provides cleanup language and amends portions of Section 66-3-422, NMSA

1978, regarding special license plates for firefighters and volunteer firefighters. The cost of the

special registration plate is $25, of which $15 from each fire fighter or volunteer firefighter spe-

cial registration plate would now be deposited in the firefighters’ survivors fund rather than in

the motor vehicle suspense fund. This act is contingent upon the enactment into law of House

Bill 377 or Senate Bill 329 or a substantially similar bill that creates the firefighters’ survivors

fund.

House Bill 484 – Page

2

FISCAL IMPLICATIONS

$15 from the sale of each plate will now be deposited into the firefighters’ survivors fund instead

of the motor vehicle suspense fund.

SIGNIFICANT ISSUES

This bill establishes a revenue source for the firefighters’ survivors fund. Currently firefighters

and volunteer firefighters can obtain a special registration license plate for $25. This fee is in

addition to the regular motor vehicle registration fee. $10 of the fee is retained by the Taxation

and Revenue Department to defray the cost of making and issuing these special registration

plates and the remainder ($15) would go to the firefighters’ survivors fund.

RELATIONSHIP

HB 484 relates to HB 377 and SB 329 which create the firefighters’ survivors fund.

BS/mt