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 Leavell

ORIGINAL DATE

LAST UPDATED

2/19/07

HB

SHORT TITLE Firefighters’ Survivors Fund Distributions

SB 924

ANALYST Earnest

REVENUE (dollars in thousands)

Estimated Revenue

Recurring

or Non-Rec

Fund

Affected

FY07

FY08

FY09

$27.0

$27.0 Recurring Firefighters’

Survivors Fund

($20.0)

($20.0) Recurring State Road Fund

($7.0)

($7.0) Recurring

Local

Governments

(Parenthesis ( ) Indicate Revenue Decreases)

Duplicates HB 484

Relates to HB 377 and the SFC substitute for SB 329

SOURCES OF INFORMATION

LFC Files

Taxation and Revenue Department (TRD)

Responses Received From

Energy, Mineral, Natural Resources Department (EMNRD)

Taxation and Revenue Department (TRD)

SUMMARY

Synopsis of Bill

Senate Bill 924 amends portions of Section 66-3-422, NMSA 1978, regarding special license

plates for firefighters and volunteer firefighters. The cost of the special registration plate is $25,

of which $15 from each fire fighter or volunteer firefighter special registration plate would now

be distributed to a new firefighters’ survivors fund rather than the state road fund and local

governments. The bill is contingent on enactment of House Bill 377 or Senate Bill 329 or a

substantially similar bill that creates the firefighters’ survivors fund.

Senate Bill 924 – Page

2

FISCAL IMPLICATIONS

The Motor Vehicle Division (MVD) of TRD issues on average 1,800 firefighters’ plates a year,

and a fee of $25 per plate are collected. MVD retains $10 per plate for the cost of production

and the remaining $15 is distributed to the State Road Fund (74.65 %) and to local governments

(25.35%) according to the “formulaic distribution" of Section 66-6-23.1. The proposal would

transfer the $15-per-plate distribution to the Firefighter’s Survivor Fund.

SIGNIFICANT ISSUES

This bill establishes a revenue source for the firefighters’ survivors’ fund, which would be

established by House Bill 377 or Senate Bill 329. Currently, firefighters and volunteer

firefighters can obtain a special registration license plate for $25. This fee is in addition to the

regular motor vehicle registration fee. $10 of the fee is retained by the Taxation and Revenue

Department to defray the cost of making and issuing these special registration plates and the

remainder ($15) would go to the firefighters’ survivors fund.

COMPANION AND RELATIONSHIP

SB 924 is the duplicate of HB 484, relates to the SFC substitute for SB 329, and is the

companion to HB 377, which creates the firefighters’ survivors fund.

BE/nt