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.





F I S C A L I M P A C T R E P O R T





SPONSOR: Knauer DATE TYPED: 1/27/99 HB 87
SHORT TITLE: Corinne H. Wolfe Children's Law Center SB
ANALYST: Pacheco-Perez


APPROPRIATION



Appropriation Contained
Estimated Additional Impact
 Recurring

or Non-Rec

 Fund

Affected

FY99 FY2000 FY99 FY2000
$ 200.0 Recurring GF



(Parenthesis ( ) Indicate Revenue Decreases)





SOURCES OF INFORMATION



Commission on Higher Education (CHE)



SUMMARY



Synopsis of Bill



This bill appropriates $200.0 to the Board of Regents of the University of New Mexico for the purpose of establishing the Corinne H. Wolfe children's law center.



FISCAL IMPLICATIONS



The appropriation of $200.0 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.



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.



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