Fiscal Note
SB0035 - Differentiated Pay for Teachers
State Impact:
Enactment of this bill would appropriate $7,000,000 from the Uniform School Fund to the State Board of Education to supplement the salary of qualifying math and science teachers outlined in the bill. Estimates indicate that 1,443 FTE educators may qualify for the salary supplement provided in the bill. The cost to provide a $5,000 annual salary supplement to each teacher equals $6,212 per FTE to cover the $5,000 gross salary itself plus salary driven employer paid benefits such as retirement, Social Security, Medicare, and Worker's Compensation. Therefore, the cost to fully implement the provisions of this bill is estimated at $8,964,000 per year.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| Uniform School Fund | $0 | $8,964,000 | $8,964,000 | $0 | $0 | $0 |
| Total | $0 | $8,964,000 | $8,964,000 | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
Enactment of this bill will benefit educators that qualify for the salary supplement outlined in the bill.
| 1/22/2008, 12:57:31 PM, Lead Analyst: Leishman, B. | Office of the Legislative Fiscal Analyst |