Economic development account.

08LSO-0134.C1

FISCAL NOTE

This bill contains an appropriation of $20,000,000 from the GENERAL FUND to the Economic Development Account.

	FY 2009	FY 2010	FY 2011
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
REVOLVING INV. FUND ACCT.	247,216	706,964	1,227,345

Source of revenue increase: Loan principal and interest repayments

Assumptions:

The above appropriation provides funding for the Wyoming Partnership Challenge Loan Program. From this appropriation, it is assumed that $3.5 million will be loaned in FY 2009, $4.0 million will be loaned in FY 2010, and $4.5 million will be loaned in FY 2011. The average loan term is assumed to be 10 years. A 1% loan origination fee is assumed on new loans.

The above estimates assume a 4.0% interest rate, net of servicing and participation fees.  It is assumed that monthly repayments of principal and accrued interest start mid-year in the first year.

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

(Information provided by Diane Moser, WBC; 777-2848)