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F I S C A L I M P A C T R E P O R T
SPONSOR Gardner
ORIGINAL DATE
LAST UPDATED
1/31/08
HB 553
SHORT TITLE NM Tech College Year Program
SB
ANALYST Haug
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
Higher Education Department (HED)
SUMMARY
Synopsis of Bill
House Bill 553 appropriates $50.0 from the general fund to the Board of Regents of New Mexico
Institute of Mining and Technology for the “college year program at New Mexico Tech".
FISCAL IMPLICATIONS
The appropriation of $50.0 contained in this bill is a recurring expense to the general fund. Any
unexpended or unencumbered balance remaining at the end of fiscal year 2009 shall revert to the
general fund.
The HED states that this request was not submitted by NMIMT to the New Mexico Higher Edu-
cation Department for review. This request is not included in the Department’s execu-
tive funding recommendation for FY09. The college year program received $50,000 non-
recurring funding in FY08.
SIGNIFICANT ISSUES
According to the HED,