Fiscal impact reports (FIRs) are prepared by the Legislative Finance Committee (LFC) for standing finance

committees of the NM Legislature. The LFC does not assume responsibility for the accuracy of these reports

if they are used for other purposes.

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

SPONSOR HEC

ORIGINAL DATE

LAST UPDATED

2/5/2008

HB 398/HECS

SHORT TITLE Supplemental Public School Funding

SB

ANALYST Aguilar

APPROPRIATION (dollars in thousands)

Appropriation

Recurring

or Non-Rec

Fund

Affected

FY08

FY09

$250.0 Nonrecurring

General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

Relates to HB-241

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of HEC Substitution

The House Education Committee substitute for House Bill 398 appropriates $250 thousand from

the general fund to Public Education Department for expenses related to planning and

implementing the new funding formula and statutory accountability measures including

contractual services.

FISCAL IMPLICATIONS

The appropriation of $250 thousand contained in this bill is a nonrecurring expense to the

general fund. Any unexpended or unencumbered balance remaining at the end of fiscal year

2009 shall revert to the general fund.

SIGNIFICANT ISSUES

House Bill 241 (the new funding formula) is working its way through the legislature. The bill

provides for the creation of an implementation work group to address structural and

implementation issues during the delay year.

The Legislature may wish to consider making this appropriation e contingent on the enactment of

HB-241 or similar legislation of the second session of the forty-eighth legislature.

PA/mt