Fiscal Note
HB0280 - School Finance Amendments
State Impact:
Enactment of this bill appropriates $2,919,643,685 in ongoing revenue to support public schools through the Minimum School Program. Of this appropriation, $2,306,524,711 is from the Uniform School Fund; $21,000,000 is from the Uniform School Fund Restricted - Interest and Dividends Account; and $592,118,974 is from school district local property tax revenues that support programs within the Minimum School Program. Expenditures listed in the bill total $2,919,590,220, a difference of $53,465 in unallocated revenue. This unallocated revenue represents the difference between the funding provided for Social Security and Retirement and the distribution of the funding based on the total number of WPUs and the value of the WPU.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| Uniform School Fund | $0 | $2,306,524,711 | $2,306,524,711 | $0 | $0 | $0 |
| Uniform School Fund Restricted | $0 | $21,000,000 | $21,000,000 | $0 | $0 | $0 |
| Local Revenue | $0 | $592,118,974 | $592,118,974 | $0 | $0 | $0 |
| Total | $0 | $2,919,643,685 | $2,919,643,685 | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
Enactment of this bill provides revenue to local school districts and charter schools to support the operation and maintenance of public schools. Individuals and businesses may also benefit through associated dealings with public schools.
| 1/29/2008, 10:08:36 AM, Lead Analyst: Leishman, B. | Office of the Legislative Fiscal Analyst |