Fiscal Note
HB0382S01 - Financing Public Education
State Impact:
Enactment of this bill could increase revenue to the Uniform School Fund by $4.4 million (due to local recapture) in FY 2010. The Basic School Program could also experience an increase of $80 million in FY 2010 in increased local property tax revenue, which would require less Uniform School Fund revenue to maintain current appropriations.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| Uniform School Fund | $0 | $0 | ($80,000,000) | $0 | $0 | $4,400,000 |
| Local Revenue | $0 | $0 | $80,000,000 | $0 | $0 | $80,000,000 |
| Total | $0 | $0 | $0 | $0 | $0 | $84,400,000 |
Individual, Business and/or Local Impact:
The effect on school districts will depend upon the structure of revenue sources currently in place and upon the weighted pupil unit. The increase in the basic rate in FY 2010 of $80 million will be offset by a corresponding decrease in other local school district levies of $80 million. Some school districts may experience a decrease in own-source property tax staying within the school district, whereas other school districts will see an increase in revenue from the basic program. In addition, the repeal of bonding authority may cause a decrease in capital outlay expenditures.
| 2/29/2008, 3:27:55 PM, Lead Analyst: Young, T. | Office of the Legislative Fiscal Analyst |