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 HJR-14

SOURCES OF INFORMATION

New Mexico Veterans' Service Commission (NMVSC)

SUMMARY

Synopsis of Bill

SB 634 appropriates $50.0 from the general fund to the NMVSC for expenditure in FY 2000 for the purpose of honoring, at a national memorial, New Mexico veterans who served in World War II.

The bill donates money to a state agency, which will in turn donate the money to a memorial.

FISCAL IMPLICATIONS

Any unexpended or unencumbered balance remaining at the end of FY 2000 shall revert to the general fund. In addition, the NMVSC reported that SB 634 would have negligible impact in terms of processing the donation.

ADMINISTRATIVE IMPLICATIONS

SB 634 will have minimal administrative impact, as the agency believes it will be able to absorb the personal time and effort necessary to process the donation.

CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP

According to the NMVSC, SB 634 is similar to HJR-14, which seeks to amend the state Constitution to allow for a donation of $10.0 to the Women's Military Memorial in Washington, D.C.

CONSEQUENCES OF NOT ENACTING THIS BILL

The memorial will not receive a donation from the State of New Mexico.

RWP/gm