Beginning agricultural producer finance authority.

09LSO-0029.C1

FISCAL NOTE

NON-ADMINISTRATIVE IMPACT	FY 2010	FY 2011	FY 2012
Anticipated Revenue Increase:
OTHER- BEGINNING AG. AUTHORITY (Under WBC)	$0	$10,000	$30,000

Assumptions:

• Bonds will be issued utilizing Wyoming’s bond cap allocation
• In exchange for tax-free bonds, banks will lend funds to; beginning agriculture producers at a lower interst rate; repayment of loan principal and interest will be made by the borrower to the bank;
• The finance authority in the proposed legislation will charge a 1% loan origination fee on each new loan; the authority will collect no other revenue.  Origination fees collected during the term of this fiscal note are based upon the following loan volume:
• 2010: $0
• 2011: $1,000,000
• 2012: $3,000,000

NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

Wyoming Business Council

Prepared by:   Diane Joyce(Moser), WBC Phone: (307)777-2848