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

SPONSOR:	Cervantes		DATE TYPED:	3/3/03		HB	844
SHORT TITLE:		Severance Tax Permanent Fund Investments				SB
					ANALYST:		Neel

REVENUE

Estimated Revenue		Subsequent Years Impact	Recurring or Non-Rec	Fund Affected
FY03	FY04
	NFI

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

Responses Received From

TRD

SUMMARY

Synopsis of Bill

House Bill 844 decreases the requirement of minimum committed capital of a New Mexico private equity fund from $15 million to $7.5 million. It also requires semi-annual reporting on the New Mexico private equity investments in the STPF by the SIC to the Legislature.

OTHER SUBSTANTIVE ISSUES

The SIC has indicated that they would prefer the outright elimination of the requirement for minimum committed capital.

SN/sb