Economic development account.

09LSO-0063.C1

FISCAL NOTE

This bill contains an appropriation of $18,000,000 from the GENERAL FUND to the Economic Development Account.

NON-ADMINISTRATIVE IMPACT	FY 2010	FY 2011	FY 2012
Anticipated Revenue Increase:
ECONOMIC DEVELOPMENT FUND	240,152	687,774	1,196,029

Source of Revenue Increase:

Loan principal and interest repayments, loan origination fee on new loans.

Assumptions:

The above appropriation is estimated to loan approximately $3.4 million in FY 2010, $3.9 million in FY 2011 and $4.4 million in FY 2012.

· Loans carry a 4% interest rate, net of servicing and participation fees;

· Monthly repayment of principal and accrued interest starting mid-year the first year;

· 1% loan origination fee on new loans; and

· Principal, interest and origination fee payments collected on loans are deposited into the revolving loan account in the Economic Development Fund.

Prepared by:   Kelley Shepp, LSO  Phone: (307)777-7881

(Information provided by Diane Joyce, WBC  Phone:(307)777-2848)