Fiscal Note
SB0048S01 - Equalization of School Capital Outlay Funding
State Impact:
Enactment of this bill appropriates an additional $28,500,000 in ongoing Uniform School Fund revenue to the State Board of Education to support the Capital Outlay Foundation Program. The bill contains a coordinating clause which supercedes the ongoing base budget supporting the Capital Outlay Foundation Program and the Enrollment Growth Program of $27,288,900 with a total of $55,788,900 for both programs, a net difference of $28.5 million.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| Uniform School Fund | $0 | $28,500,000 | $28,500,000 | $0 | $0 | $0 |
| Total | $0 | $28,500,000 | $28,500,000 | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
Enactment of this bill may result in increased revenue allocations to school districts that qualify to receive Capital Outlay Foundation Program revenues. Enactment of this bill may also result in additional school districts qualifying for program revenues. Bill provisions increase the property tax threshold rate that school districts may impose to receive a distribution from the Capital Outlay Foundation Program. Districts that meet or exceed the new rate will receive a full allocation, those districts that do not meet the new rate may see a pro-rata allocation based on their participation level.
| 1/29/2008, 11:16:55 AM, Lead Analyst: Leishman, B. | Office of the Legislative Fiscal Analyst |