Higher education endowment fund.

09LSO-0295.C1

                                                         

FISCAL NOTE

 

 

FY 2009

FY 2010

FY 2011

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase (Decrease):

 

 

 

HIGHER ED. ENDOWMENT RES.

2,200,000

2,200,000

2,200,000

SCHOOL FOUNDATION FUND

(2,200,000)

(2,200,000)

(2,200,000)

 

Source of revenue increase (decrease):

 

Diversion of $2,200,000 of over-the-cap federal mineral royalty revenues each fiscal year from the School Foundation Program Account to the Higher Education Endowment Reserve Account

 

Assumptions:

 

The above estimates are based on October 2008 CREG projections.

 

This bill is effective immediately. Therefore, this diversion will take place beginning in FY 2009.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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