Revolving loan fund accounts. |
08LSO-0065.C1 |
FISCAL NOTE
|
FY 2009 |
FY 2010 |
FY 2011 |
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue Increase: |
|
|
|
CLEAN WATER SRF ADMIN |
0 |
54,000 |
54,000 |
Source of revenue increase: Administrative fee of up to one percent (1%) as set forth in the bill.
Assumptions:
The revenue increase assumes a one percent (1%) administrative fee for the fiscal years indicated above. Revenues from the fee will build over the fiscal years indicated and beyond to replace diminishing revenues from the federal capitalization grant that currently funds program administration. That federal grant is scheduled to end in 2011 assuming Congress does not reauthorize additional program funding.
Even if this bill becomes law in the 2008 session, the Office of State Lands and Investments (OSLI) does not anticipate any revenues from the fee for FY 2009. This is because OSLI would need to promulgate rules at the beginning of FY 2009, and because the fee would not be generated until new loans entered repayment status, which could be a year or two after loans are awarded.
Prepared by: Robert Tompkins, OSLI Phone: 777-6646