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

SPONSOR Arnold-Jones

ORIGINAL DATE

LAST UPDATED

1-31-2008

HB 498

SHORT TITLE Library & Economic Development Conference

SB

ANALYST Dearing

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY08

FY09

$50.0

Recurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Cultural Affairs Department

SUMMARY

Synopsis of Bill

House Bill 498 appropriates $50 thousand from the general fund to Cultural Affairs department

for the purpose of conducting a statewide conference on libraries and economic development.

FISCAL IMPLICATIONS

The appropriation of $50 thousand contained in House Bill 498 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

Cultural Affairs Departments studies have found that public libraries are utilized by local

residents more frequently that any other cultural resource, including museums, galleries, festivals

or other special cultural events.

A statewide conference, such as the one proposed in this legislation, would inform community

leaders, fiscal decision-makers and the general public about the crucial role that libraries play in

their communities.

House Bill 498– Page

2

This conference would most likely be arranged by the State Library division of the Department

of Cultural Affairs. The State Library understands that there is a need for exploration into the

impact of library resources and learning in New Mexico, its impact on New Mexico’s economy, as

well as its impact on quality of life issues . . . and then to communicate these findings to various

stakeholders.

The State Library would partner with UNM’s Bureau of Business and Economic Research to conduct

a study on the economic impact that New Mexico public libraries have on state and local economies.

This BBER study would be funded using federal Library Services and Technology Fund money.

Once completed, this federally-funded study could inform a future statewide conference as is

represented in HB 498.

PD/mt