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F I S C A L I M P A C T R E P O R T
SPONSOR Saavedra
ORIGINAL DATE
LAST UPDATED
2/15/07
HB 1009
SHORT TITLE NM Tech Geophysical Research Center
SB
ANALYST Guambaña
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
$830.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Higher Education Department (HED)
SUMMARY
Synopsis of Bill
House Bill 1009 appropriates $830,000 from the General Fund to the Board of Regents of New
Mexico Institute of Mining and Technology (NMT) for the Geophysical Research Center (GRC).
FISCAL IMPLICATIONS
The appropriation of $830,000 contained in this bill is a recurring expense to the General Fund.
Any unexpended or unencumbered balance remaining at the end of FY 08 shall not revert to the
General Fund.
Per HED, a request for additional funding was submitted by NMT to the Department for review
in the amount of $829,400. HED’s funding recommendation for FY 08 is a continuance of FY07
recurring funding in the amount of $953,000.
SIGNIFICANT ISSUES
HED states that the GRC represents an internationally recognized group of scientists whose
productivity can be measured by the large number of grants and contracts they receive. The GRC