Fiscal impact reports (FIRs) are prepared by the Legislative Finance Committee (LFC) for standing finance

committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports if

they are used for other purposes.

Current FIRs (in HTML & Adobe PDF formats) are a vailable on the NM Legislative Website (legis.state.nm.us).

Adobe PDF versions include all attachments, whereas HTML versions may not. Previously issued FIRs and

attachments may be obtained from the LFC in Suite 101 of the State Capitol Building North.

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

SPONSOR Park

ORIGINAL DATE

LAST UPDATED

2/9/2007

HB 767

SHORT TITLE Career Development Internship Charter Schools

SB

ANALYST Aguilar

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY07

FY08

$250.0

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Relates to appropriations in the General Appropriation Act

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of Bill

House Bill 767 appropriates $250 thousand from the general fund to the Public Education

Department for the purpose of paying stipends to students at charter schools chartered by the

Albuquerque Public Schools who are engaged in construction, culinary arts and other career

development internships.

FISCAL IMPLICATIONS

The appropriation of $250 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 2008 shall

revert to the general fund.

The LFC remains concerned with funding initiatives outside of the funding formula as it tends to

disequalize school funding and diverts funding away from core educational needs.

SIGNIFICANT ISSUES

This bill directs funding specifically to APS charter schools and excludes all other schools in New

Mexico offering vocational internships.

Apprenticeship funding is included in the general appropriations act for apprenticeship assistance.

PA/nt