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.

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 Suite 101 of the State Capitol Building North.

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

SPONSOR:	Altamirano		DATE TYPED:	02/23/01		HB
SHORT TITLE:		Healthcare Finance Act				SB	342
					ANALYST:		Kehoe

APPROPRIATION

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY01

FY02

FY01

FY02

NFI

N/A

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

Health Policy Commission

Department of Health - Did Not Respond

SUMMARY

Synopsis of Bill

Senate Bill 342 amends certain sections of the New Mexico Special Hospital District Act; the Hospital Funding Act; and the Hospital Equipment Loan Act. to expand the purpose of loans and financing opportunities for health care providers.

Significant Issues

Senate Bill 342 amends various sections to do the following:

•Renames the "New Mexico Hospital Equipment Loan Council" to the "New Mexico Healthcare Finance Council," and renames the "Hospital Equipment Loan Act" to the "Healthcare Finance Act."
•Expands the scope to allow financing of equipment and infrastructure not only for hospitals, but for other healthcare providers licensed by the Department of Health.
•and expands the financing uses to include, not only equipment but other health care projects, healthcare research, and support functions. The bill further allows the Council to invest in funds with a higher return which may allow more money to be available for healthcare projects.

FISCAL IMPLICATIONS

The appropriation of (AMOUNT) contained in this bill is a (RECURRING or NON-RECURRING) expense to the (GENERAL FUND or OTHER). Any unexpended or unencumbered balance remaining at the end of (FISCAL YEAR) shall revert to the (GENERAL FUND or OTHER).

Continuing Appropriations

If Applicable

This bill creates a new fund and provides for continuing appropriations. The LFC objects to including continuing appropriation language in the statutory provisions for newly created funds. Earmarking reduces the ability of the legislature to establish spending priorities.

LMK/njw