FISCAL NOTE
Date Requested: February 08, 2024
Time Requested: 02:43 PM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2170 |
Introduced |
HB4919 |
|
|---|
| CBD Subject: |
Education (Higher) |
|---|
|
FUND(S):
General
Sources of Revenue:
General Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
If passed, this bill would allow eligible students of a state institution of higher education who failed to meet certain requirements to reapply annually for the Promise Scholarship if that student can satisfy the other qualifications set forth. Data was reviewed over the past several years to determine on average the students who would requalify under the proposed criteria in the proposed legislation. The estimated cost is approximately $375,000 annually. This cost is in addition to the current Promise Scholarship annual appropriations.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
374,400 |
374,400 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The estimated cost is based on the following considerations:
-The current award amount of the Promise Scholarship per student
-Estimated annual average of students that would requalify for the Promise Scholarship using the criteria in the proposed bill.
Memorandum
Person submitting Fiscal Note: Misty Price
Email Address: misty.price@wvhepc.edu