FISCAL NOTE
FUND(S):
General Revenue
Sources of Revenue:
General Fund,Other Fund Educational and General
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
HB 4449 will not have an impact on the costs and revenues of state government.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2008
Increase/Decrease
(use"-") |
2009
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The bill would give the Higher Education Policy Commission and Council for Community and Technical College Education authority to enter into lease-purchase arrangements for the benefit of higher education institutions, particularly small institutions that otherwise would have neither the capacity nor the ability to leverage favorable financing terms.
Administrative costs would be insignificant and could be absorbed within the constraints of current Commission and Council appropriations. Administrative costs would be more than offset by savings to higher education institutions from the favorable financing terms to be derived from the pooling of lease-purchase activities.
Memorandum
There are no issues which have not be covered in the explanation above.
Person submitting Fiscal Note: Richard Donovan
Email Address: donovan@hepc.wvnet.edu