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.

The LFC is only preparing FIRs on bills referred to the Senate Finance Committee, the Senate Ways and Means Committee, the House Appropriations and Finance Committee and the House Taxation and Revenue Committee. The chief clerks are responsible for preparing and issuing all other bill analyses.

Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Room 416 of the State Capitol Building.

(Parenthesis ( ) Indicate Expenditure Decreases)

Relates to

SOURCES OF INFORMATION

LFC Files

General Services Department, Property Control Division

SUMMARY

Synopsis of Bill

The bill directs the GSD Property Control Division to negotiate for and purchase two residences on Don Gaspar in Santa Fe at no more than the appraised value. It authorizes use of uncommitted funds in the Capitol Buildings Repair Fund to be transferred to the Property Control Reserve Fund to purchase the property after approval by the Secretary of the Department of Finance and Administration.

Significant Issues

The bill notes that savings in operating costs can be achieved by reducing the use of rented office space for agencies based in Santa Fe and that co-locating offices provides greater accessibility to the public served by state agencies.

FISCAL IMPLICATIONS

According to GSD, the long-range impact of this bill will be recurring reduction in lease payments from agency operating costs which come primarily from the general fund.

ADMINISTRATIVE IMPLICATIONS

GSD indicates that implementation of this bill would be part of the normal workload of that agency.

DH/njw