Business ready community account.

04LSO-0229.L1

                                                         

UPDATED FISCAL NOTE BASED ON JANUARY 2004 CREG (HB0157)

 

This bill contains an appropriation of $17,500,000 from the BUDGET RESERVE ACCOUNT to the Business Ready Community Account.

 

This bill repeals the distribution of coal lease bonus revenues to the Business Ready Community Account of $7.5 million in FY 2005 and $10 million in FY 2006. These distributions take place in the event of a projected positive balance in the School Capital Construction Account at the end of the fiscal year. According to the January 2004 CREG forecast, no distribution to the Business Ready Community Account is currently projected.

 

This bill redistributes $15 million of coal lease bonus revenues per year from the School Capital Construction Account to the Business Ready Community Account in FY 2007 through FY 2013. According to the January 2004 CREG forecast, no coal lease bonus revenues are currently projected for FY 2007 and FY 2008.

 

 

 

 

 

 

 

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881