Economic development account 2. |
08LSO-0391.L1 |
FISCAL NOTE
This bill contains an appropriation of $10,000,000 from the GENERAL FUND to the Economic Development Account.
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FY 2009 |
FY 2010 |
FY 2011 |
NON-ADMINISTRATIVE IMPACT |
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Anticipated Revenue Increase: |
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|
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REVOLVING INV. FUND ACCT. |
247,216 |
706,964 |
1,086,079 |
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 $2.5 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)