FISCAL NOTE
Date Requested: January 31, 2019
Time Requested: 04:11 PM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2550 |
Introduced |
HB2674 |
|
|---|
| CBD Subject: |
Education (Higher) |
|---|
|
FUND(S):
0589
Sources of Revenue:
General Fund
Legislation creates:
Creates New Expense
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 2674, if enacted, would create a loan repayment program for mental health providers who practice in an underserved area for five years.
It is estimated that the annual cost of the proposed legislation is about $330,000.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2019
Increase/Decrease
(use"-") |
2020
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
330,000 |
330,000 |
| Personal Services |
0 |
30,000 |
30,000 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
300,000 |
300,000 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
It is estimated that about 10 mental health providers will annually enter the program and about $30,000 of loan debt will be repaid for each participant in exchange for their practice commitment. Annual staffing costs are estimated at about $30,000.
Memorandum
Person submitting Fiscal Note: Ed Magee
Email Address: edward.magee@wvhepc.edu