FISCAL NOTE
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.
The purpose of this bill is to reduce the amount of local property tax collections used in the local share calculation of the Public School Support Program to 85% in FY 2013 and to 80% in FY 2014 and thereafter.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2012
Increase/Decrease
(use"-") |
2013
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
23,629,413 |
47,258,826 |
| 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):
This proposed legislation would reduce the local share percent by 5% for the 2012-13 year and by another 5% for the 2013-14 year and each year thereafter. This change would increase State aid to schools by approximately $23,629,413 for the 2012-13 year and by approximately $47,258,526 for the 2013-14 year, as compared to the estimated amount of state aid that would be required at the current local share percent of 90%.
Memorandum
Person submitting Fiscal Note: Brenda Freed
Email Address: bfreed@access.k12.wv.us