School finance-recapture-2.

07LSO-0326.C1

                                                         

FISCAL NOTE

 

 

FY 2008

FY 2009

FY 2010

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase:

 

 

 

SCHOOL FOUNDATION FUND

62,000,000

63,900,000

66,200,000

 

Source of revenue increase:

 

School Foundation Program recapture of local district revenues in excess of the former constitutional cap.  The Wyoming Constitution was amended in the November 2006 General Election and the cap eliminated through voter approval of Amendment B.

 

 

Assumptions:

 

Impacted school districts may contractually obligate the entire balance of school year 2006-07 rebates, as authorized by specific provision contained in this legislation. Current estimates of school year 2006-07 rebated recapture is approximately $70.4 million.

 

Fiscal year 2008 estimates are based on current law, and October 2006 CREG revenue projections.

 

Fiscal 2009 and 2010 projections are based on fiscal year 2008 estimates, and adjusted based on the projected changes in assessed valuation for applicable years.

 

 

 

 

 

 

 

 

 

 

Prepared by:   Brenda Long, LSO   Phone:   777-7881