Mineral impact assistance to local governments-2.

06LSO-0383.L1

                                                         

FISCAL NOTE

 

This bill contains an appropriation of $100,000,000 from the GENERAL FUND to the State Loan and Investment Board (SLIB). Of this appropriation, $50,000,000 will be effective July 1, 2006 and $50,000,000 will be effective July 1, 2007. Any monies remaining unexpended or unobligated on June 30, 2008 shall revert to the General Fund.

 

For the period beginning July 1, 2006 and ending June 30, 2008, a grant may be made to a city, town or county by the SLIB. Grants shall only be made upon finding by the SLIB that the city, town, or county has been directly impacted by natural gas development. No matching funds shall be required to receive grants from the $100 million appropriation.

 

In addition, this bill contains an appropriation of $15,000,000 from the GENERAL FUND to the SLIB. These funds shall be retained by the State Treasurer and available to the SLIB to provide grants to local governments only to the extent that cash or binding commitments from nonstate sources have been received by the SLIB or the local government to match the amount of the grant.

 

Any city, town, or county receiving a grant from this funding would not be eligible to receive a loan or grant under the Mineral Royalty Grant Program in the same fiscal year.

 

This bill is effective July 1, 2006 and is repealed effective July 1, 2008.

 

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

 

 

 

The funds will be administered by the State Loan and Investment Board in the same manner as the Mineral Royalty, Capital Construction Program, W. S. 9-4-604. Grants will be made from this appropriation only upon a finding by the Board that the entity has been directly impacted by the development of natural gas. As a “stand alone bill”, no additional staffing will be required to support this program. Given the difficulty to define the interaction and responsibility of the Office of State Lands and Investments, there could likely be a marginal administrative fiscal impact that is indeterminable at this time.

 

Prepared by:   Amanda Sewell, State Lands  Phone:   777-7028