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

SPONSOR Hamilton

ORIGINAL DATE

LAST UPDATED

2/6/2007

HB 549

SHORT TITLE Tour of the Gila Bicycle Race

SB

ANALYST Schuss

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY07

FY08

$50.0

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Relates to SB 526

SOURCES OF INFORMATION

LFC Files

Responses Received From

Tourism Department (TD)

SUMMARY

Synopsis of Bill

House Bill 549 appropriates $50,000 from the general fund to the Tourism Department to

support the Tour of the Gila Bicycle Race.

FISCAL IMPLICATIONS

The appropriation of $50,000 contained in this bill is a recurring expense to the general fund.

Any unexpended or unencumbered balance remaining at the end of FY08 shall revert to the

general fund.

TD notes that no other funding exists for this purpose.

SIGNIFICANT ISSUES

The Tour of the Gila bicycle race will celebrate the 21

st

running of the annual 5-day event in

FY08.

House Bill 549 – Page

2

PERFORMANCE IMPLICATIONS

HB 549 enables NMTD to improve upon the following key performance measures: percent

increase in lodger's tax and economic impact of tourism in the state of New Mexico.

RELATIONSHIP

HB 549 relates to Senate Bill 526. SB 526 appropriates $50,000 to the Economic Development

Department for expenditure in FY08 to provide marketing, planning and logistical support for

the Tour of the Gila Bicycle Race.

BS/nt