Master FIR (1988)

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

SPONSOR:	Lopez		DATE TYPED:	02/04/99		HB
SHORT TITLE:		NMFA Loan Authorization Revocations				SB	81
					ANALYST:		L. Kehoe

APPROPRIATION

Appropriation Contained		Estimated Additional Impact		Recurring or Non-Rec	Fund Affected
FY99	FY2000	FY99	FY2000	Recurring or Non-Rec	Fund Affected
NFI	NFI	NFI	NFI	N/A	N/A

(Parenthesis ( ) Indicate Expenditure Decreases)

REVENUE

Estimated Revenue		Subsequent Years Impact	Recurring or Non-Rec	Fund Affected
FY99	FY2000	Subsequent Years Impact	Recurring or Non-Rec	Fund Affected
NFI	NFI	NFI	N/A	N/A

(Parenthesis ( ) Indicate Revenue Decreases)

Duplicates/Conflicts with/Companion to/Relates to

SOURCES OF INFORMATION

New Mexico Finance Authority (NMFA)

SUMMARY

Synopsis of Bill

Senate Bill 81 revokes authorization for the NMFA to make loans from the Public Project Revolving Fund for projects that no longer viable or need funding.

Significant Issues

Senate Bill 81deauthorizes 13 projects for 12 different qualified entities statewide. The approximate dollar value of the project to be deauthorized is $36,015,000.

According to NMFA, each qualified entity has been contacted in writing and it has been confirmed that the governmental entity and/or applicant agrees to have their proposed project deleted from legislative authorization.

If Senate Bill 81 does not pass, the projects will remain on the legislative authorized projects list, and the NMFA's capacity will appear to be lower.

The entities and projects to be deauthorized include the following:

City of Albuquerque Computer Equipment $ 250,000

Alpine Village Water Project 400,000

City of Aztec Electrical Distribution System 900,000

Dona County Juvenile/Adult Facilities 24,885,000

Village of Ft. Sumner Wastewater Project 150,000

City of Grants Business Industrial Park 500,000

City of Las Cruces Wastewater Project 2,100,000

Lincoln County Solid Solid Waste Project 1,630,000

Waste Authority

Village of Milan Wastewater Project 100,000

San Juan County Hospital Project 1,500,000

Santa Fe County Parking Facility 3,300,000

City of T or C Scraper Truck 300,000

$ 36,015,000

FISCAL IMPLICATIONS

While the deauthorization does not have a fiscal impact to the state general fund, it does increase the NMFA's capacity to consider other loan applications.

LMK/njw