Passage of this bill redistributes existing Mineral Lease Revenues. Statewide, the effect will be neutral. However, over the course of three years, the Department of Transportation will receive an additional 15 percent of the Mineral Lease allocations which will be offset by a decrease of 15 percent to the Permanent Community Impact Fund. This will bring the Department of Transportation allocation up to 40 percent. There is also a redistribution of Permanent Community Impact Funds to the Department of Community and Economic Development over the next three years of 5 percent. The net diversion away from the Permanent Community Impact Fund is 20 percent over the course of three years.

Office of the Legislative Fiscal Analyst