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.



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





SPONSOR: Aragon DATE TYPED: 02/10/00 HB
SHORT TITLE: Amend Authorization for Certain STBS SB 443
ANALYST: Williams


APPROPRIATION



Appropriation Contained
Estimated Additional Impact
Recurring

or Non-Rec

Fund

Affected

FY00 FY01 FY00 FY01
See Narrative

(Parenthesis ( ) Indicate Expenditure Decreases)



Duplicates HB349



SOURCES OF INFORMATION



LFC files

Department of Finance and Administration - Board of Finance (DFA/BOF)



SUMMARY



Synopsis of Bill



For the severance tax bond program, 1999 legislation authorized $20 million to provide funding for sewer projects in the north and south valley areas of Bernalillo County. The authorization is limited to $2 million per year for FY01 to FY10. For this program, the bill would authorize funding from federal, city and county sources beyond that level needed for certification in any fiscal year to be carried forward and credited against the amount required in subsequent years.



Significant Issues



DFA notes the authorization was conditioned on the receipt of matching funds from the federal government and local sources that would provide 4½ times the amount of state funding.



FISCAL IMPLICATIONS



None, but may reduce the need for state funds.



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