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F I S C A L I M P A C T R E P O R T
SPONSOR Martinez
ORIGINAL DATE
LAST UPDATED
1/24/08
HB
SHORT TITLE Develop Farms For The Future Program
SB 218
ANALYST Haug
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY08
FY09
$300.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Department of Finance & Administration (DFA)
SUMMARY
Synopsis of Bill
Senate Bill 218 appropriates $300.0 from the general fund to the Board of Regents of New
Mexico State University to develop Farms for the Future Project that will support the long-term
viability of small farms in New Mexico by assisting farmers with business planning and
implementation.
FISCAL IMPLICATIONS
The appropriation of $300.0 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.
SIGNIFICANT ISSUES
The DFA states the Research and Public Service Project (RPSP) process in FY08 required higher
education institutions to participate in a hearing to present the project and budget to a panel
comprised of DFA, LFC and HED representation in order to be considered for RPSP funding
during the 2008 Legislative Session. New Mexico State University and the New Mexico