NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature. The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.
SPONSOR J.G. Taylor DATE TYPED 01/23/99 HB 6
SHORT TITLE State Fair Appropriation Act SB
ANALYST Hadwiger
Estimated
Appropriation Contained Additional Impact Recurring Fund
FY98 FY99 FY98 FY99 or Non-Rec Affected
State
$ . $ 13,671.5 $ . $ . Recurring Fair
(Parenthesis ( ) Indicate Expenditure Decreases)
Estimated Revenue Subsequent Recurring Fund
FY98 FY99 Years Impact or Non-Rec Affected
State
$ . $ 13,671.5 $ . Recurring Fair
(Parenthesis ( ) Indicate Revenue Decreases)
Relates to HB2
SOURCES OF INFORMATION
LFC files
SUMMARY
Synopsis of Bill
This bill sets out the FY2000 appropriation for the New Mexico State Fair (Fair). The Fair derives revenues from admission fees, concessions, parking, horse racing, midway, lease of facilities and other self-generated sources.
Significant Issues
The Fair is projected to receive about $1 million in gaming revenues. At the request of the Fair, these funds have been budgeted in capital outlay.
The budget proposed in this bill reduces current staffing at the Fair by 17.5 positions, reflecting a guideline employed by the Legislative Finance Committee (LFC) to delete positions which had been vacant for over three months. Eight of these positions have been vacant for more than two years.
CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP
This bill relates to House Bill 2.
DH/gm