Fiscal Note

HB0160 - Minimum School Program Budget Amendments

State Impact:
Enactment of this bill appropriates in FY 2008, $2,173,474,120 in ongoing Uniform School Fund Revenue, $128,000,000 in one-time Uniform School Fund revenue and $21,000,000 in ongoing Uniform School Fund Restricted - Interest and Dividends Account revenue to support the Minimum School Program and School Building Program. Enactment of this bill increases the value of the Weighted Pupil Unit from $2,417 to $2,514, an increase of 4.0 percent. Enactment of this bill provides state revenues to support the anticipated Minimum School Program expenditures of $2,780,622,741 in FY 2008. Of this total , $2,272,474,120 is appropriated from state revenue sources and local revenue sources provide the remaining $508,148,621. Further, enactment of this bill increases the appropriation to the School Building Program by $50,000,000 in one-time Uniform School Fund revenue. Of this one-time revenue, $15,000,000 supports the Capital Outlay Foundation Program and $35,000,000 supports the Enrollment Growth Program. The ongoing revenue supporting the School Building Program totals $27,288,900.

Individual, Business and/or Local Impact:
Enactment of this bill provides increased revenue to local school districts and charter schools to support the operation of public schools. Individuals and businesses may also benefit through associated dealings with school districts and charter schools.