Fiscal Note

HB0278S01 - Charter School Funding Amendments

State Impact:
Enactment of this bill may require $37,599,153 in Uniform School Funds to support the phase-out of the state funded Charter School Local Replacement Funding program within the Minimum School Program, provide for the continued state fund replacement of school district Debt Service revenues, provide additional state funding for Charter School school-level administrative costs, and provide funding for charter school support services provided by the State Charter School Board. The FY 2009 base budget for the Minimum School Program contains $40,061,488 in Uniform School Funds appropriated to support the replacement of local revenues. Enactment of this bill may provide for a reduction in state expenditures supporting Charter School Local Replacement Funding by an estimated $2,462,335. Over the next three fiscal years, the state funds supporting Charter School Local Replacement Funding will phase-out, except for state funds to charter schools replacing district Debt Service revenues and administrative functions as outlined in the bill.

Individual, Business and/or Local Impact:
School districts may see a reduction in Minimum School Program allocations, based on the formula outlined in the bill, commensurate with the number of resident students attending a charter school.