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SPONSOR: | Martinez | DATE TYPED: | 03/04/99 | HB | 753 | ||
SHORT TITLE: | Court Automation Bonds | SB | |||||
ANALYST: | Woodlee |
Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
FY99 | FY2000 | |||
Maximum of $8,500.0 |
Unknown | Recurring | Court Automation
|
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
Administrative Office of the Courts (AOC)
SUMMARY
Synopsis of Bill
House Bill 753 would allow the New Mexico Finance Authority to issue and sell additional revenue bonds for court automation not to exceed $8,500.0.
Significant Issues
The 1996 Legislature authorized the issuance of $8,500.0 in bonds by the New Mexico Finance Authority to purchase equipment and software for the statewide court automation system for trial courts. According to the AOC, by the end of the current fiscal year, over $3,000.0 of those bonds will have been retired. House Bill 753 authorizes NMFA to issues additional bonds to replace the amount already paid off.
The proposed legislation would allow continuous bonding authority in the amount of $8,500.0.
These additional bonds will finance the following unmet automation needs:
FISCAL IMPLICATIONS
This bill authorizes the issuance of revenue bonds for court automation not to exceed $8,500.0. The revenues may be appropriated by the Legislature to the Administrative Office of the Courts.
ADMINISTRATIVE IMPLICATIONS
The agency indicates they will be able to absorb any additional functions within their existing capacity.
MW/gm