Fiscal Note
HB0148 - Education Vouchers
State Impact:
Enactment of this bill will have net state tax fund impacts of $100,000 in FY 2007, $5.4 million in FY 2008, and $8.8 million in FY 2009. Section 6 of the bill will require an estmated General Fund appropriation of $9,200,000 in FY 2008 and $12,300,000 in FY 2009 for scholarships to students attending private schools. The bill itself appropriates $100,000 ongoing from the General Fund beginning in FY 2007 for administrative expenses. Average scholarship amounts withheld from districts under Section 7 of the bill ($3.9 million in FY 2008 and $3.6 million in FY 2009) will be deposited in the Uniform School Fund partially offsetting the cost of scholarships.
| Funding Source | FY 2007 Approp. | FY 2008 Approp. | FY 2009 Approp. | FY 2007 Revenue | FY 2008 Revenue | FY 2009 Revenue |
| General Fund | $100,000 | $9,300,000 | $12,400,000 | $0 | $0 | $0 |
| Uniform School Fund, One-time | $0 | $0 | $0 | $0 | $3,900,000 | $3,600,000 |
| Total | $100,000 | $9,300,000 | $12,400,000 | $0 | $3,900,000 | $3,600,000 |
Individual, Business and/or Local Impact:
Individuals may benefit from scholarships awarded under this bill in amounts ranging from $500 to $3,000 depending upon income level. Private businesses may benefit from increased demand for educational services. Local school districts may experience less than anticipated growth in enrollment numbers and in associated state education funding.
| 1/30/2007, 5:27:28 PM, Lead Analyst: Ball, J. | Office of the Legislative Fiscal Analyst |