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: SCORC DATE TYPED: 03/07/01 HB
SHORT TITLE: Delayed Repeal Public Utility Act SB 817/SCORCS
ANALYST: Valenzuela


APPROPRIATION



Appropriation Contained
Estimated Additional Impact
Recurring

or Non-Rec

Fund

Affected

FY01 FY02 FY01 FY02
NFI



(Parenthesis ( ) Indicate Expenditure Decreases)



Companion to SB 266, which delays electric utility industry restructuring.



SOURCES OF INFORMATION



LFC Files

Public Regulation Commission

Energy, Minerals and Natural Resources Department (EMNRD)



SUMMARY



Synopsis of SCORC Substitute Bill



The Senate Corporations Committee (SCORC) substitute for Senate Bill 817 amends the Public Utility Act [Sections 62-3-1 to Section 62-3-5 NMSA 1978] by eliminating the sunset date (delayed repeal) of July 1, 2003 for the Act.



Significant Issues



The Legislature delayed the repeal of this statute to coincide with implementation of electric utility industry restructuring. Although, because Senate Bill 266 would postpone implementation by 5 years, it is necessary to ensure this Act remains in tact during the delay. The bill would accomplish this goal. The Public Utility Act will need to be repealed when electric utility industry restructuring is implemented.













FISCAL IMPLICATIONS



The SCORC substitute for SB 817 does not carry an appropriation and will not have a fiscal impact.



MFV/ar