FISCAL NOTE
Date Requested: January 11, 2024
Time Requested: 08:45 PM |
| Agency: |
Treasurer's Office, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1501 |
Introduced |
HB4322 |
|
|---|
| CBD Subject: |
Education (K12) |
|---|
|
FUND(S):
1327
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The proposed legislation would allow all existing non-public school students to be eligible to participate in the Hope Scholarship Program. According to the West Virginia Department of Education, a total of 38,377 students would become eligible for the program. The State Treasurer's Office estimates it would require the funding for ten additional positions to handle the significantly increased workload if the legislation were enacted. This fiscal note below is the estimated cost for ten additional positions under the Hope Scholarship Division of the Treasurer's Office. This estimate includes the cost of salaries, insurance, retirement, and other required benefits.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
844,318 |
844,318 |
| Personal Services |
0 |
844,318 |
844,318 |
| 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):
Memorandum
Person submitting Fiscal Note: James Fuerhoff
Email Address: james.fuerhoff@wvsto.gov