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| SPONSOR: | Sandel | DATE TYPED: | 02/04/99 | HB | 84 | ||
| SHORT TITLE: | Drinking Water System Financing | SB | |||||
| ANALYST: | O'Connell | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| $ 1,686.3 | Non-recurring | DWSRLF* | |||
| $ (1,686.3) | Non-recurring | PPRF** | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
* Drinking Water State Revolving Loan Fund
** Public Project Revolving Fund
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
New Mexico Finance Authority analysis
LFC files
SUMMARY
Synopsis of Bill
House Bill 84 appropriates $1,686.3 from the public project revolving fund to the drinking water state revolving loan fund for expenditure in FY99 and subsequent fiscal years to carry out the purposes of the Drinking Water State revolving Loan Fund Act. Balances remaining at the end of any fiscal year shall not revert.
Significant Issues
House Bill 84 carries an emergency clause.
The appropriation included in House Bill 84 represents an aggregate amount not to exceed 35 percent of the governmental gross receipts tax proceeds distributed to the Public Project Revolving Fund in the preceding year, minus all debt service charges and administrative costs of the New Mexico Finance Authority paid on bonds issued for the benefit of the Wastewater Facility Construction Loan Fund, the Rural Infrastructure Revolving Loan Fund, the Solid Waste Facility Grant Fund and the Drinking Water State Revolving Loan Fund.
The New Mexico Environment Department, the Legislative Oversight Committee, and the New Mexico Finance Authority approved recommending that the entire amount available be appropriated to the fund.
FISCAL IMPLICATIONS
House Bill 84 appropriates $1,686.3 from the Public Project Revolving Fund to the Drinking Water State Revolving Loan Fund. This is a non-recurring appropriation that is made pursuant to the provisions of Section 6-21-6.1 NMSA 1978.
BWO/njw