Senate Bill 100 would raise the statutory debt limit for the Albuquerque Metropolitan Arroyo Flood Control Authority (AMAFCA) from $80,000,000 to $120,000,000, sponsor Sen. Daniel I. Tobias told the committee, saying the change would reflect inflation since the limit was last adjusted in 2007.

Kevin Troutman, executive director of AMAFCA, told the Tax, Business and Transportation Committee the bill “does not increase taxes” and would allow the authority to seek larger bond issuances that would still require voter approval for bond measures. Troutman said the AMAFCA board has not raised its millage rate for debt repayment in 25 years.

Sponsor’s rationale: Sen. Tobias said $80 million adjusted for inflation would be roughly $125 million; the bill’s $120 million cap is intended to permit necessary flood-control financing without increasing the property-tax rate. He emphasized the bill’s importance for Bernalillo County neighborhoods — including the West Side and the South Valley — that have many homes in flood plains.

Committee discussion: Senator Figueroa asked whether the cap should be indexed to the consumer price index to avoid repeated statutory updates. Troutman said AMAFCA did not seek CPI indexing and noted the 1963 enabling structure tied limits to predecessor financing arrangements; he said AMAFCA has not required indexing in the past.

Vote: The committee recommended SB100 by due pass (mover recorded as Senator Scherer; second from Senator Figueroa), with no recorded opposition in the hearing.

Next steps: The bill will move forward with a committee due-pass recommendation.