Emergency energy assistance trust fund.

06LSO-0243.C1

FISCAL NOTE

This bill contains an appropriation of $10,000,000 from the GENERAL FUND.  This appropriation is effective immediately.

This bill contains an appropriation of $50,000 from the GENERAL FUND to the Department of Family Services.  This appropriation is effective immediately.

The fiscal impact is indeterminable. Though this legislation continuously appropriates funds from the holding account, the amount of funds that would be received by gifts to be deposited into the Emergency Assistance Trust Fund is unknown. Therefore, the amount of investment income earned and deposited to the income account is not determinable.  Also, the amount of the $10 million appropriation within the Emergency Assistance Holding Account that would be transferred to the Trust Fund is not determinable.  However, funds in all three accounts (Trust Fund, Holding Fund and Income Account) would be invested as part of the State Agency Pool (using current authorization) and using the January 2006 CREG investment income projections, would earn investment income of 4.34 percent for FY07, 4.53 percent for FY08, and 4.72 percent for FY09.

NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill modifies the Department of Family Services’ budget.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

Department of Family Services

Prepared by:   Joy Hill, LSO                    Phone:   777-7881

(Information provided by Sharon Garland, State Treasurer’s Office, ph. 777-7475; Paul Yaksic, Dept of Family Services, ph. 777-6100)