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F I S C A L I M P A C T R E P O R T
SPONSOR Larranaga
ORIGINAL DATE
LAST UPDATED
1/30/07
HB 554
SHORT TITLE Searchable Taxpayer Transparency Web Site
SB
ANALYST Propst
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
$500.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of Bill
House Bill 554 appropriates $500.0 in FY07 and FY08 to the Department of Finance and
Administration to establish a searchable taxpayer transparency web site that provides the public
with information about state revenues and expenditures.
FISCAL IMPLICATIONS
The appropriation of $500.0 contained in this bill is a recurring expense to the General Fund.
Any unexpended or unencumbered balance remaining at the end of FY07 and 08 shall revert to
the General Fund.
SIGNIFICANT ISSUES
House Bill 554 calls for the creation of a searchable website by the Department of Finance and
Administration that is accessible by all taxpayers in New Mexico to public information regarding
agency revenues and expenditures. The website will detail by agency original operating
budgets, special appropriations, monthly revenue and expenditure reports, revenue disbursements
to local governments, government instrumentalities, the general fund and other state funds, and