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 increase the amount of funds required under the Public School Support Program by reducing the local effort by approximately $23,629,413 each year.



Memorandum






    Person submitting Fiscal Note: Brenda Freed
    Email Address: bfreed@access.k12.wv.us