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committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports
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F I S C A L I M P A C T R E P O R T
SPONSOR SFC
ORIGINAL DATE
LAST UPDATED
1/15/08
1/28/08 HB
SHORT TITLE 2008 Capital Projects G.O. Bond Act
SB 333/SFCS
ANALYST Kehoe, L.
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY08
FY09
$223,800.0 Non-Recurring General Obligation
Bond Capacity
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
SUMMARY
Synopsis of Bill
The Senate Finance Committee Substitute for Senate Bill 333 authorizes $223.8 million from
General Obligation Bond (GOB) capacity for the purpose of funding capital outlay needs within
four bond issues: senior center capital outlay facilities and equipment, library acquisitions,
health facilities, and higher education and special schools.
Synopsis of Original Bill
Senate Bill 333 authorizes $223.8 million from General Obligation Bond (GOB) capacity for the
purpose of funding higher education, special school, senior citizen center, public school
education facilities and equipment; and for public school, academic, and public library
acquisitions.
FISCAL IMPLICATIONS
The authorization of $223.8 million contained in this bill, including $372,000 for the cost of
issuance of the bonds, is a non-recurring expense to GOB capacity. The state agencies and state
institutions to which money has been appropriated in this bill shall be responsible for monitoring
the projects funded in the Act to ensure compliance with the Constitution and laws of New
Mexico and shall cause to be reverted any unexpended or unencumbered balance remaining at
the earlier of the third full fiscal year after issuance of the bonds or the termination or completion