Master FIR (1988)

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.

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

SPONSOR:	Stewart		DATE TYPED:	01/24/01		HB	6
SHORT TITLE:		State Fair Commission Appropriations Act				SB
					ANALYST:		Gonzales

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY01	FY02	FY01	FY02	Recurring or Non-Rec	Fund Affected
	$ 13,958.4			Recurring	OSF - State Fair

(Parenthesis ( ) Indicate Expenditure Decreases)

Duplicates/Relates to the Appropriation in The General Appropriation Act, HB2 See Narrative

REVENUE

Estimated Revenue		Subsequent Years Impact	Recurring or Non-Rec	Fund Affected
FY01	FY02	Subsequent Years Impact	Recurring or Non-Rec	Fund Affected

(Parenthesis ( ) Indicate Revenue Decreases)

Duplicates/Conflicts with/Companion to/Relates to

SOURCES OF INFORMATION

LFC Files

New Mexico State Fair

SUMMARY

Synopsis of Bill

House Bill 6 appropriates $13,958.4 from other state funds to the State Fair Commission for the purpose of agency operations for FY02. This bill establishes the FY02 LFC recommendation for the New Mexico State Fair. The Fair's operating budget is established through revenues the Fair derives from admission fees (including parking), concessions, horse racing, carnival, facilities rentals, merchandise sales, gaming and other events.

PERFORMANCE IMPLICATIONS

The New Mexico State Fair will transition to performance-based budgeting in FY03.

FISCAL IMPLICATIONS

The appropriation of $13,958.4 contained in this bill is a recurring expense to the New Mexico State Fair fund. The Fair is an enterprise agency and any unexpended or unencumbered balance remaining at the end of FY02 do not revert to the general fund but require appropriation by the Legislature each fiscal year.

DUPLICATION/RELATIONSHIP

This bill relates to the appropriation in The General Appropriation Act, House Bill 2, that includes the appropriation contained in House Bill 6 for the State Fair.

TECHNICAL ISSUES

page 2, line 3 "2001" should read "2002". The appropriation is for FY02.

JMG/njw