COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 2538-01
BILL NO.: SB 654
SUBJECT: Education, Elementary and Secondary: CPI Adjustment
TYPE: Original
DATE: January 18, 2000
FISCAL SUMMARY
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| State School Moneys | ($23,000,000) | ($23,000,000) | ($23,000,000) |
| Total Estimated
Net Effect on All State Funds |
($23,000,000) | ($23,000,000) | ($23,000,000) |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Local Government | $23,000,000 | $23,000,000 | $23,000,000 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the Department of Elementary and Secondary Education (DESE) estimated the proposal would increase the cost of funding the State Schools Moneys Fund by $20.0 to $26.0 million for hold harmless districts. The midpoint of $23.0 million was used for purposes of this fiscal note.
| FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
| STATE SCHOOL MONEYS FUND | |||
| Cost-Department of Elementary and Secondary Education (DESE) | |||
| State Aid | ($23,000,000) | ($23,000,000) | ($23,000,000) |
| FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
| SCHOOL DISTRICTS | |||
| Income School Districts | |||
| State Aid | $23,000,000 | $23,000,000 | $23,000,000 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
Beginning with the 2000-2001 school year, no school district would receive less revenue per eligible pupil than the district received in the 1999-2000 school year times the cumulative change in the general price level as measured by the consumer price index.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Elementary and Secondary Education
Jeanne Jarrett, CPA
Director
January 18, 2000