Fiscal Note - State of Utah - 2014 General Session
HB0109S01 - Public Education Capital Funding Equalization
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill appropriates one-time $61,000,000 from the Education Fund to the Capital Outlay Enrollment Growth Program. The bill also allocates any Education Fund revenue surplus and 33% of remaining balances in the Basic and Related to Basic programs to the newly created Enrollment Growth Account. The minimum anticipated transfer amount available for appropriation to the Capital Outlay Enrollment Growth Program is $10 million annually beginning in FY 2015.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue | $0 | $0 | $0 |
| Expenditure: | |||
| Education Fund, One-Time | $0 | $61,000,000 | $0 |
| Nonlapsing Funds | $0 | $10,000,000 | $10,000,000 |
| Total Expenditure | $0 | $71,000,000 | $10,000,000 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($71,000,000) | ($10,000,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($61,000,000) | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill appropriates $61,000,000 to the Capital Outlay Enrollment Growth Program, with 20 districts anticipated to see an increase in distribution from the program. The average increase is $3,050,000, with a maximum increase of $18,961,000 and a minimum increase of $48,000. Should the Legislature appropriate the minimum additional $10 million from the Basic and Related to Basic program balances, the same 20 districts may see an additional revenue increase of between $8,000 and $3,015,000.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill likely will not result in direct, measurable expenditures by Utah residents or businesses.
Performance Note Required? (Joint Rule 4-2-404): No
| 2/25/2014, 6:06:16 PM, Lead Analyst: Young, T./Attny: AOS | Office of the Legislative Fiscal Analyst |