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.
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| SPONSOR: | Silva | DATE TYPED: | 2/24/99 | HB | 564 | ||
| SHORT TITLE: | Expand Purpose for State Highway Bonds | SB | |||||
| ANALYST: | Esquibel | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| Unknown | Recurring | Bonds--Rd Fd | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
Relates to SB590, Highway Infrastructure Fund
SOURCES OF INFORMATION
State Highway and Transportation Department (SHTD)
LFC Files
SUMMARY
Synopsis of Bill
HB564 expands the purpose for which the highway bonds authorized by the 1998 Legislature may be used to include any road south of I-40 and west of I-25 in Bernalillo county.
Significant Issues
The SHTD indicates some of the roads that fit the criteria described in the bill include Rio Bravo Blvd., Coors Blvd., and Isleta Blvd.
FISCAL IMPLICATIONS
The Department of Finance and Administration, the LFC, the SHTD, and the State Highway Commission have acted to approve a budget adjustment request (BAR) to fund $5.5 million for the Southwest Loop project/Rio Bravo.
CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP
HB564 relates to SB590, the Highway Infrastructure Fund, which provides funding for the southwest loop in Albuquerque.
RAE/gm