Instructional Documents

Fiscal Impact Reports Introduction Overview of Fiscal Impact Reports Presentation by Allen Maury, PhD, Senior Economist1N.M. Taxation and Revenue DepartmentRevenue Stabilization and Tax Policy Committee of New Mexico LegislatureRaton, New Mexico August 7, 2002 During...

Purposes of Taxation and Revenue Department FIRs FIRs typically describelegal, administrative, and technical issues associated with proposed legislation, as well as probable associated fiscal impacts, i.e., changes in revenues – not expenditures. Fiscal impact reports...

The FIR Preparation Process Bill Selection and Assignment Once bills are introduced in a legislative session and printed, hard copies are placed in a mailbox at the state capitol building. TRD representatives (Marilyn Hill, Tax Policy Director and Jeanne Flannery,...

Sections of an FIR A fairly typical FIR performed by the Taxation and Revenue Department is shown in Exhibit 2 below. As illustrated in the exhibit, FIRs contain a number of sections. The purpose of many of the sections is obvious, and therefore not discussed below....

Some Sources of Confusion Indeterminate Fiscal Impacts Listed in TRD Reports Asterisks and associated commentary indicating that fiscal impacts cannot be determined with reasonable accuracy appear on reports for a number of reasons. These include: Cases where likely...

Weaknesses in the Current FIR Preparation System Dynamic Scoring It is true that, under some circumstances, dynamic scoring could improve revenue estimates. It is unclear under what conditions benefits estimating dynamic effects of revenue estimates exceed costs,...