NOTE:  As provided in LFC policy, this report is intended only 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 for other purposes.

 

The most recent FIR version (in HTML & Adobe PDF formats) is available on the Legislative Website.  The Adobe PDF version includes all attachments, whereas the HTML version does not.  Previously issued FIRs and attachments may be obtained from the LFC in Suite 101 of the State Capitol Building North.

 

 

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

 

 

 

SPONSOR:

HGUAC

 

DATE TYPED:

2/27/03

 

HB

533\HGUACS

 

SHORT TITLE:

Amend Border Development Act

 

SB

 

 

 

ANALYST:

Collard

 

APPROPRIATION

 

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

FY03

FY04

 

 

 

 

 

See Narrative

 

 

(Parenthesis ( ) Indicate Expenditure Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

Border Authority

 

SUMMARY

 

     Synopsis of Bill

 

House Bill 533 amends the Border Development Act to allow the Secretary of Economic Development to designate the chairmanship of the New Mexico Border Authority.  The bill amends the act to better define the authority’s capability to fund, acquire, lease, and sell port-of-entry related projects and adds a section to define the limitations on the Border Authority capabilities to finance or operate projects. 

 

FISCAL IMPLICATIONS

 

There is no appropriation or significant fiscal impact associated with this bill; however the department indicates the bill provides enhanced capability for the Border Authority to participate in projects that will involve funding from other sources.  Section 58-27-10-C(2) of the bill limits those projects so that debt may not become a general obligation of the state.

 

ADMINISTRATIVE IMPLICATIONS

 

The department indicates the bill has minimal administrative impact if there are increased requirements for administrative management for new projects.  This bill provides greater latitude to the Border Authority to fund, acquire, lease, and sell projects in support of border development.  The bill better defines the capability of the Border Authority to perform projects that are supportive, but not necessarily part of, federal ports-of-entry.

 

OTHER SUBSTANTIVE ISSUES

 

The New Mexico Border Authority strongly supports this legislation.  It provides language to define and limit those projects that the Border Authority can implement to support border development.

 

KBC/ls