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| SPONSOR: | Lujan | DATE TYPED: | 02/04/00 | HB | 449 | ||
| SHORT TITLE: | Tobacco Settlement Bonding | SB | |||||
| ANALYST: | Williams | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY00 | FY01 | |||
|
Indeterminate |
Recurring | Tobacco Bonding
Settlement Fund | ||
|
(Indeterminate) |
Recurring | Tobacco Settlement
Permanent Fund | ||
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
Legislative Finance Committee (LFC files)
SUMMARY
Synopsis of Bill
Provides the potential for a maximum of 40% of the tobacco settlement revenues for debt service payments on new bonds. The bonds would be issued by the New Mexico Finance Authority, but the bill does not include an actual authorization for these bonds. Effective date is January 1, 2001.
FISCAL IMPLICATIONS
HB 449 has an indeterminate fiscal impact because the bill only provides for a concept. With additional details on how this program would be structured, a more definitive fiscal analysis can be developed.
AW/njw:gm