Highway fund-assignment of fine and penalty revenues.

12LSO-0081.C1

                                                         

FISCAL NOTE

Note:  This bill would implement conforming statutory changes as allowed by companion bill 12LSO-0042.C1, which if passed, must also be ratified by the majority of electors during the next general election in November 2012. 

 

 

FY 2013

FY 2014

FY 2015

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase (Decrease):

 

 

 

HIGHWAY FUND            

8,000,000

16,000,000

16,000,000

SCHOOL FOUNDATION PROGRAM

(2,350,000)

(4,700,000)

(4,700,000)

 

 

 

 

Anticipated Expenditure Increase:

 

 

 

SCHOOL FOUNDATION PROGRAM

5,650,000

11,300,000

11,300,000

 

Source of Revenue Increase (Decrease) and Expenditure Increase:

Combined with 12LSO-0042.C1 (changing Article 16, Section 14 of the Wyoming Constitution) the related statutes noted in this bill will be changed to allow diversion of general government fines and penalties from the SCHOOL FOUNDATION PROGRAM ACCOUNT to the STATE HIGHWAY FUND. 

 

Assumption:

Related to the SCHOOL FOUNDATION PROGRAM ACCOUNT, there are two separate impacts to the account:

 

1.  The school foundation program will experience a decrease in revenues from nine (9) recapture school districts in the amount of $4,700,000.00; and

2.  The school foundation program will experience increased expenditures from the SCHOOL FOUNDATION PROGRAM ACCOUNT to thirty-nine (39) entitlement districts in the amount of $11,300,000.00.

 

Figures for FY 2013 are half of the annual estimate due to an implementation date of approximately January 1, 2013.  These estimates are based on the most recent data from the FY 2010-2011 school year and represent the reported revenue under the Wyoming Department of Education's revenue code 82150 – Fines and Forfeitures related to violations of state laws, with revenues received and recorded by county treasurers.

 

In total, there will be an approximate $16,000,000.00 annual diversion of funds from the school foundation program to the state highways program for construction, improvement, and maintenance of Wyoming roadways.  Due to the school funding model, all school districts will be held harmless for any lost funds related to this diversion as the remaining necessary funding for schools will be made up from the SCHOOL FOUNDATION PROGRAM ACCOUNT.

 

Prepared by:  Michael Swank, LSO           Phone:  777-7881

(Information provided by Jed Cicarelli, Wyoming Department of Education, phone 777-5808; Kevin Hibbard, Wyoming Department of Transportation, phone 777-4026)