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committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports
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F I S C A L I M P A C T R E P O R T
SPONSOR Miera
ORIGINAL DATE
LAST UPDATED
1/30/2007
HB 63
SHORT TITLE Reversions to State-Support Reserve Fund
SB
ANALYST Aguilar
REVENUE (dollars in thousands)
Estimated Revenue
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
FY09
$2,000.0
Recurring State Support
Reserve Fund
($2,000.0)
Recurring General Fund
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Public Education Department (PED)
SUMMARY
Synopsis of Bill
House Bill 63 provides for the State-Support Reserve Fund to become a non-reverting fund. The
bill also allows for any balances in general fund appropriations to the Public Education
Department and the State Equalization Guarantee to revert to the State-Support Reserve Fund
rather than the general fund.
FISCAL IMPLICATIONS
Provision contained in this bill will reduce revenues to the general fund by diverting reversions
into the state support reserve fund.
This bill changes the reversion status of a fund and provides for continuing appropriations. The
LFC has concerns with including continuing appropriation language in the statutory provisions
for funds, as earmarking reduces the ability of the legislature to establish spending priorities.