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F I S C A L I M P A C T R E P O R T
SPONSOR Altamirano
ORIGINAL DATE
LAST UPDATED
2/3/06
HB
SHORT TITLE Mainstreet Programs
SB 166
ANALYST Earnest
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY06
FY07
$200.0
Recurring
General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SB 166 is similar to HB 445 and its duplicate, SB 168.
SB 166 relates to SB 265, SB 366, HB 689, and HB 311.
Duplicates Appropriation in the General Appropriation Act
HB2 includes $300 thousand in new money for the MainStreet program, bringing total Main-
Street funding to $650 thousand.
ESTIMATED ADDITIONAL OPERATING BUDGET IMPACT (dollars in thousands)
FY06
FY07
FY08 3 Year
Total Cost
Recurring
or Non-Rec
Fund
Affected
Total
($0.1)
($0.1)
(0.1) Recurring General
Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
Senate Bill 166 appropriates $200 thousand from the general fund to the Economic Development
Department to support MainStreet programs.
pg_0002
Senate Bill 166 Page 2
FISCAL IMPLICATIONS
The appropriation of $200 thousand contained in this bill is a recurring expense to the general
fund. Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall
revert to the general fund.
The MainStreet Program may need additional administrative assistance with expansion of the
program, causing some impact on the operating budget.
SIGNIFICANT ISSUES
Adding communities and activities to the MainStreet program might stimulate local reinvestment
and increase revitalization activity. New economic activity could increase tax revenue.
ADMINISTRATIVE IMPLICATIONS
According to EDD, MainStreet staff, covered by the MainStreet base budget, would be assigned
to design and coordinate expanded program services, but additional staff would be needed to
handle the expansion in program services.
CONFLICT, DUPLICATION, COMPANIONSHIP, RELATIONSHIP
SB 166 relates to:
SB 265 and HB 689, which appropriate money for arts programs in MainStreet communities
SB 366, SB 168 and HB 445, which appropriate money for the UNM-MainStreet collabora-
tion
HB 311, which appropriates $1 million to DFA, Local Government Division to establish a
MainStreet revolving loan account.
BE/yr