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

SPONSOR Altamirano

ORIGINAL DATE

LAST UPDATED

2/6/2007

HB

SHORT TITLE Tour of the Gila Bicycle Race

SB 526

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 HB 549

SOURCES OF INFORMATION

LFC Files

Responses Received From

Tourism Department (TD)

Economic Development Department (EDD)

SUMMARY

Synopsis of Bill

Senate Bill 526 appropriates $50,000 from the general fund to the Economic Development

Department to be used for the marketing and planning and logistical support for the annual Tour

of the Gila Bicycle Race in Grant and Catron Counties.

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.

Senate Bill 526 – Page

2

SIGNIFICANT ISSUES

In 2007, the Tour of the Gila Bicycle Race will celebrate the 21

st

running of the annual 5-day

event.

EDD notes that events such as the Gila Bicycle Race bring visitors to the counties and revenues

for hotels, restaurants and shops during the event. Some of these visitors will return again, thus

boosting the local economies and promoting long-term tourism for the area.

PERFORMANCE IMPLICATIONS

SB 526 will allow NMTD to improve upon the following performance measures: percent

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

RELATIONSHIP

SB 526 relates to House Bill 549. HB 549 appropriates $50 thousand to NMTD for expenditure

in FY08 to support the Tour of the Gila Bicycle Race.

TECHNICAL ISSUES

NMTD suggests making the appropriation to NMTD.

ALTERNATIVES

NMTD suggests the following amendment: on Page 1, lines 16-17 delete “Economic

Development Department" and insert in lieu thereof: “Tourism Department".

BS/nt