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.
The LFC is only preparing FIRs on bills referred to the Senate Finance Committee, the Senate Ways and Means Committee, the House Appropriations and Finance Committee and the House Taxation and Revenue Committee. The chief clerks are responsible for preparing and issuing all other bill analyses.
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 Room 416 of the State Capitol Building.
| SPONSOR: | Miera | DATE TYPED: | 02/03/99 | HB | 120 | ||
| SHORT TITLE: | New Mexico Santos Collection | SB | |||||
| ANALYST: | Hadwiger | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| $ 3,000.0 | $ | Non-Rec | GF | ||
| $ 140.0 | Rec. | GF/OSF | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
LFC Files
Office of Cultural Affairs (OCA)
SUMMARY
Synopsis of Bill
The bill would appropriate $3 million general fund in FY2000 to the Office of Cultural Affairs (OCA) to acquire a collection of 293 New Mexican santos from Folk Art, Inc. Unexpended balances would revert at the end of FY2000.
Significant Issues
The appropriation would allow the OCA to purchase a unique collection of 293 New Mexico santos, currently owned by Mr. Larry Frank. The collection would likely be placed at the new Hispanic Cultural Center (HCC) in Albuquerque.
FISCAL IMPLICATIONS
According to OCA, the purchase of the santos would require additional operating costs for maintenance. Including environmental control, conservation, curatorial services, security, insurance, and other costs, the total recurring expense could reach $140.0 per year. This amount would likely drop to $40.0 - $50.0 per year when the Visual Arts building is complete. The OCA projects that the collection could generate sufficient revenue to support its operating costs. The LFC anticipates the need for general fund support for at least half the cost of maintaining the collection, even with the fee revenues.
ADMINISTRATIVE IMPLICATIONS
According to the OCA, the HCC's visual arts building, where the collection would be housed, will be under construction for 16-20 months, beginning in February 1999. Additional time may be required to outfit the building with appropriate technology to display and maintain this collection.
According to OCA, a collection of this value would require a full-time curator, conservation costs and expenses related to security and insurance. If the collection were to become a "traveling exhibition," there might be a substantial increase in indirect costs.
TECHNICAL ISSUES
According to OCA, the collection would require environmental control.
OTHER SUBSTANTIVE ISSUES
If this appropriation is not made, the collection could be sold outside New Mexico.
DH/njw