Federal mineral lease payments.

07LSO-0564.L1

FISCAL NOTE

This bill redistributes 40 percent of the federal coal lease bonus payment revenues from each fiscal year (up to a maximum of $50 million per year) from the School Capital Construction Account to the state Highway Fund in fiscal years 2008, 2009, 2010, and 2011. Those coal lease bonus payment revenues that exceed $50 million per year shall be deposited in the School Capital Construction Account.

The amounts deposited to the State Highway Fund shall be reduced as necessary to maintain a projected positive balance in the School Capital Construction Account after all appropriations from that account for the applicable fiscal year are deducted.

The amount to be deposited to the State Highway Fund in FY 2008 is currently projected to be zero, based on January 2007 CREG projections, and the current Joint Appropriations Committee (JAC) supplemental budget recommendation. The amount to be deposited to the State Highway Fund in FY 2009 is currently unknown, and is dependent upon appropriations from the School Capital Construction Account in the FY 2009-10 biennium. There are currently no coal lease bonus payment revenues projected after FY 2009 in the January 2007 CREG forecast.

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