Wyoming workforce housing infrastructure program.

06LSO-0163.L2

                                                         

FISCAL NOTE

 

This bill contains an appropriation of $80,000,000 from the BUDGET RESERVE ACCOUNT to the proposed Wyoming Workforce Housing Infrastructure Account.

 

This bill contains an authorization of 1 Part-Time contract position.

 

This bill contains an appropriation of $70,000 from the GENERAL FUND to the State Treasurer to fund the above position.

 

 

FY 2007

FY 2008

FY 2009

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase:

 

 

 

WORKFORCE HOUSING INFRA.

2,313,220

1,209,510

0

 

Source of revenue increase: Investment income

 

Assumptions:

 

For the estimate above, it is assumed one-third of the funding would be disbursed early each fiscal year and therefore, unavailable to earn interest income. Thus $26.7 million would be disbursed very early in FY07, $26.7 million would be disbursed very early in FY08; and $26.6 million would be disbursed very early in FY09. It is also assumed there would be no loan repayments of principal and/or interest during this three-year period as this amount is indeterminable.

 

Therefore, it is assumed there would be a balance of $53.3 million that would be available to generate interest income during FY07 at the rate of 4.34% (state agency pool rate); $26.7 million that would be available to generate interest income during FY08 at the rate of 4.53%, with no investment income being predicted during FY09 as the remaining balance of $26.6 million would be disbursed very early in FY09. The above rate of return percentages are based on January 2006 CREG projections.

 

Prepared by:   Sharon Garland, Treasurer's Office    Phone:   777-7475

 

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 does not modify any state agency budget or current personnel authorizations.

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:

 

State Treasurer's Office