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committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports
if they are used for other purposes.
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F I S C A L I M P A C T R E P O R T
SPONSOR Papen
ORIGINAL DATE
LAST UPDATED
2/14/07
3/1/07 HB
SHORT TITLE Bonds For Mesa Del Sol Tax Increment Project
SB 839/aSFC
ANALYST Francis
REVENUE (dollars in thousands)
Estimated Revenue
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
FY09
* See Narrative
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates HB 1088
SOURCES OF INFORMATION
LFC Files
Taxation and Revenue Department (TRD)
Mesa del Sol, Inc/Forest Covington
State Land Office
City of Albuquerque
Department of Finance and Administration (DFA)
Responses Received From
Commissioner of Public Lands (CPL)
Department of Finance and Administration (DFA)
New Mexico Finance Authority (NMFA)
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of SFC Amendment
The Senate Finance Committee amended Senate Bill 839 by prohibiting capital outlay
authorizations for projects within Mesa del Sol increment development district during the period
when tax increment bonds are outstanding. Exceptions to the prohibition include buildings
owned by the state or agencies, institutions or political subdivisions that are for public schools,
higher education, cultural buildings or facilities, buildings used for public safety or building used
for other purposes. See “Technical Issues" below for an analysis of the amendment.