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

SPONSOR Rodela

ORIGINAL DATE

LAST UPDATED

1/18/08

HB 67

SHORT TITLE Technical Assistance to Certain Land Grants

SB

ANALYST Propst

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY08

FY09

$75.0

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Economic Development Department (ECC)

SUMMARY

Synopsis of Bill

House Bill 67, makes an Appropriation to Provide Technical Assistance to Certain Land Grants,

appropriates $75 thousand from the general fund to the Department of Finance and

Administration for the purpose of providing technical assistance to land grants.

FISCAL IMPLICATIONS

The appropriation of $75 thousand contained in this bill is a recurring expense to the general

fund. Any unexpended or unencumbered balance remaining at the end of FY09 shall revert to the

general fund.

SIGNIFICANT ISSUES

According to the Economic Development Department, the legislation is to provide funding for

technical assistance to certain Land Grants. Distribution would be through the North-central

New Mexico Economic Development District to community land grants that are political

subdivisions of the State and would enhance the economic development opportunities for the

community Land Grants throughout the State.

WEP/nt