FISCAL NOTE
Date Requested: January 26, 2023 Time Requested: 09:34 AM |
Agency: |
Higher Education Policy Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2769 |
Introduced |
HB2757 |
|
CBD Subject: |
Health |
---|
|
FUND(S):
General
Sources of Revenue:
General Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
The bill proposes to amend the current WV Invests program and allow not-for-profit hospital based allied health programs authorized by the West Virginia Council for Community and Technical College Education and not-for-profit private baccalaureate institutions to be eligible for funding.
The proposed amendment is not expected to have a fiscal impact that would require additional funding. The estimated cost of $1.1 million associated with additional eligible students could be absorbed by the current level of funding.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2023 Increase/Decrease (use"-") |
2024 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
0 |
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):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
The estimate is based on the following considerations and assumptions:
- The total number of additional students who would be eligible for funding is estimated at 320.
- The average award for each student is estimated at $3,500 per academic year (the average WV Invests award for 2021-2022 academic year).
- Based on the limited participation of public baccalaureate institutions in WV Invests, it is unlikely that not-for-profit private baccalaureate institutions would choose to participate in the program.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: Robert Wallett
Email Address: robert.wallett@wvhepc.edu