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



SPONSOR: Hamilton DATE TYPED: 2/22/99 HB 598
SHORT TITLE: North American Free Trade Institute SB
ANALYST: Hadwiger

APPROPRIATION



Appropriation Contained
Estimated Additional Impact
Recurring

or Non-Rec

Fund

Affected

FY99 FY2000 FY99 FY2000
$ 20.0 Rec. GF

(Parenthesis ( ) Indicate Expenditure Decreases)



Duplicates SB 456

SOURCES OF INFORMATION



LFC Files

Economic Development Department (EDD)



SUMMARY



Synopsis of Bill



The bill would appropriate $20.0 general fund in FY2000 to the economic development to contract with the Silver City-Grant County Economic Development Corporation for operation of the North American Free Trade Agreement Institute. Unexpended or unencumbered balances at the end of FY2000 would revert to the general fund.



Significant Issues



The North American Free Trade Agreement has created substantial trade and economic development opportunities for New Mexico. The NAFTA Institute provides a venue to promote understanding of these opportunities.



ADMINISTRATIVE IMPLICATIONS



The Economic Development Department indicates that there wold be no additional funds or staff required to implement this bill.



CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP



Duplicates SB456.



DH/gm