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: | Sandel | DATE TYPED: | 1/26/99 | HB | 85 | ||
SHORT TITLE: | NMSU Energy Tech Center | SB | |||||
ANALYST: | Pacheco-Perez |
Recurring
or Non-Rec |
Fund
Affected | ||||
FY99 | FY2000 | FY99 | FY2000 | ||
$ 300.0 | Recurring | GF |
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates SB30
_____________________________________________________________________________
SOURCES OF INFORMATION
Commission on Higher Education (CHE)
SUMMARY
Synopsis of Bill
This bill appropriates $300.0 to the Board of Regents of the New Mexico State University for the purpose of creating and operating a center for energy technologies at NMSU in Dona Ana county.
Significant Issues
According to the CHE, this project was ranked 8th of eleven projects requested by the institution. In reviewing the research and public service project requests, this project received a high rating by the CHE.
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 FY00 shall revert to the general fund.
ADMINISTRATIVE IMPLICATIONS
Based upon the research and public service project request submitted by NMSU, this project would add 4.00 FTE.
CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP
This bill duplicates Senate Bill 30.
OTHER SUBSTANTIVE ISSUES
According to the CHE, the state higher education funding formula allows institutions to retain 100% of earned overhead on federal grants and contracts for the purpose of providing seed money and matching funds for projects such as that proposed in this bill.
APP/prr