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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 McCoy
ORIGINAL DATE
LAST UPDATED
2/20/07
HB 993
SHORT TITLE State Expenditure Web Site
SB
ANALYST Propst
ESTIMATED ADDITIONAL OPERATING BUDGET IMPACT (dollars in thousands)
FY07
FY08
FY09 3 Year
Total Cost
Recurring
or Non-Rec
Fund
Affected
Total
$0.1*
Recurring General
Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
*see narrative
Relates to HB 554
SOURCES OF INFORMATION
LFC Files
Responses Received From
Taxation and Revenue Department (TRD)
Department of Finance and Administration (DFA)
SUMMARY
Synopsis of Bill
House Bill 993 requires 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.
SIGNIFICANT ISSUES
HB 993 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
monthly Budget Adjustment Requests. It will also identify reversions and cash balances, and
allow access to the capital outlay monitoring report as well as annual audit and special audits.
The website will include any other information that will help the public understand state revenue
and expenditures by agency.