Fiscal Note - State of Utah - 2012 General Session

SB0152 - Charter School Financing

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill appropriates $3,000,000 one-time from the Education Fund to the Charter School Reserve Account in Fiscal Year 2013. Enactment of this bill could increase the state's indirect credit obligation up to $253 million.

State Budget Detail TableFY 2012FY 2013FY 2014
Education Fund, One-Time$0$3,000,000$0
   Total Expenditure$0$3,000,000$0
Net Impact, All Funds (Rev.-Exp.)$0($3,000,000)$0
   Net Impact, General/Education Funds (Rev.-Exp.)$0($3,000,000)$0

Local Governments (UCA 36-12-13(2)(c)):
Charter schools may see a decrease in debt service costs; for every 1% reduction in interest rates, a charter school would save about $49,000 per $1,000,000 in debt on a 30 year bond.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill likely will not result in direct, measurable expenditures by Utah residents or businesses.

2/6/2012, 12:50:08 PM, Lead Analyst: Young, T./Attny: AOSOffice of the Legislative Fiscal Analyst