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F I S C A L I M P A C T R E P O R T
SPONSOR Komadina
ORIGINAL DATE
LAST UPDATED
8/16/08 HB
SHORT TITLE Sandoval County Flood Damage Repair
SB 11
ANALYST Kehoe
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY09
FY10
$25,000.0
Non-Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
Southern Sandoval County Arroyo Flood Control Authority (website)
SUMMARY
Synopsis of Bill
Senate Bill 11 appropriates $25 million from the general fund to the Local Government Division
of the Department of Finance and Administration for the purpose of flood damage repair and
flood control improvements by the South Sandoval County Arroyo Flood Control Authority in
Sandoval County.
FISCAL IMPLICATIONS
The appropriation of $25 million contained in this bill is a non-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 bill contains an emergency clause.
The Authority is statutorily authorized to levy and collect general ad valorem taxes on all
property subject to property taxation within its boundaries. The tax levy or rate for general
operations is limited to one mill ($1.00 for each $1,000) on the total net taxable value of property
subject to such taxation. The Authority may issue general obligation revenue bonds subject to
the electorate at a general or special election. The revenue is budgeted for operational and debt
service expenditures. Revenues and expenditures are subject to an independent audit and require
review by the New Mexico State Auditor.