FUND(S):



Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    



Fiscal Note Detail


Effect of Proposal Fiscal Year
2011
Increase/Decrease
(use"-")
2012
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 56,818,231 56,818,231
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 purpose of this bill is to reduce the local share taken into consideration for the state aid funding formula by 50% of the increase in local tax collections over the most recent five-year period.
    
    The estimated cost of this proposal to the State through the Public School Support Program for the 2011-12 year is $56,818,231.
    



Memorandum


    



    Person submitting Fiscal Note: Pam Bird for Joe Panetta
    Email Address: pbird@access.k12.wv.us