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| SPONSOR: | Taylor, J.P. | DATE TYPED: | 2/19/99 | HB | 652 | ||
| SHORT TITLE: | El Favor de los Santos Touring Exhibition | SB | |||||
| ANALYST: | Pacheco-Perez | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| $ 150.0 | Recurring | GF | |||
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
Commission on Higher Education (CHE)
Office of Cultural Affairs (OCA)
SUMMARY
Synopsis of Bill
This bill appropriates $150.0 to the Board of Regents of the New Mexico State University for the purpose of funding the University Art Gallery for the tour and exhibition costs of El Favor de Los Santos - the retablo collection of NMSU. This bill carries an emergency clause.
Significant Issues
According to CHE, this project was not included in the list of eleven projects requested by the institution.
FISCAL IMPLICATIONS
The appropriation of $150.0 contained in this bill is a recurring expense to the general fund in fiscal years 1999 and 2000. 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. Of this indirect cost revenue, a portion is used to support salaries of administrative persons monitoring the contracts, utilities and other overhead expenses required to maintain the activities of the contract. However, a great deal of the indirect cost revenues is available to develop new research and public service projects as well as to expand academic departments. The revenue is unrestricted in the sense that the governing board of the institution has the flexibility to chose which projects are supported with these funds. The CHE also suggests the following language: The institution receiving the appropriation in this bill shall submit a program evaluation to the LFC and CHE by August 1, 2002, detailing the benefits to the State of New Mexico.
APP/gm