New Mexico 2025 2025 Regular Session

New Mexico House Bill HB350 Introduced / Fiscal Note

Filed 02/14/2025

                    Fiscal impact reports (FIRs) are prepared by the Legislative Finance Committee (LFC) for standing finance 
committees of the Legislature. LFC does not assume responsibility for the accuracy of these reports if they 
are used for other purposes. 
 
F I S C A L    I M P A C T    R E P O R T 
 
 
SPONSOR Chávez, E./Thomson 
LAST UPDATED 
ORIGINAL DATE 2/13/2025 
 
SHORT TITLE Health Care Cost Driver Analysis  
BILL 
NUMBER House Bill 350 
  
ANALYST Chenier  
APPROPRIATION* 
(dollars in thousands) 
FY25 	FY26 
Recurring or 
Nonrecurring 
Fund 
Affected 
 $1,000.0 Nonrecurring  General Fund  
Parentheses ( ) indicate expenditure decreases. 
*Amounts reflect most recent analysis of this legislation. 
 
Sources of Information 
 
LFC Files 
 
Agency Analysis Received From 
Health Care Authority (HCA) 
SUMMARY 
 
Synopsis of House Bill  
 
House Bill 350 appropriates $1 million from the general fund to the Legislative Council Service 
to contract for consulting and technical assistance to aid the Legislative Health and Human 
Services Committee in the committee’s continued work of analyzing and developing solutions to 
address key health care cost drivers. 
  
This bill does not contain an effective date and, as a result, would go into effect 90 days after the 
Legislature adjourns if enacted, or June 20, 2025. 
 
FISCAL IMPLICATIONS  
 
The appropriation of $1 million contained in this bill is a nonrecurring expense to the general 
fund. Any unexpended or unencumbered balance remaining at the end of FY28 shall revert to the 
general fund. 
 
SIGNIFICANT ISSUES 
 
LFC currently contracts with three health professionals to do similar work as contemplated in the 
bill; the work funded by this bill would be additional to that work.  
 
EC/hj/SL2