Date Requested: January 28, 2015
Time Requested: 10:42 AM
Agency: Higher Education Policy Commission
CBD Number: Version: Bill Number: Resolution Number:
1950 Introduced HB2020
CBD Subject: Education (Higher)



Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

    House Bill 2020, if enacted, would expand the PROMISE scholarship funds awarded to persons majoring in STEM (science, technology, engineering and mathematics) fields. The PROMISE scholarship would fund the tuition as well as the room and board for these students. For students attending public institutions, it is estimated that the total costs associated with this bill for would be approximately $185.6 million. If students attending public institutions comprise approximately 14% of the total Promise Scholarship recipient population and the costs for students attending private institutions are equivalent to the costs for students attending public institutions, the total annual cost would be about $215.8 million. The estimate does not include any additional costs associated with increases in the number of STEM majors.

Fiscal Note Detail

Effect of Proposal Fiscal Year
Fiscal Year
(Upon Full
1. Estmated Total Cost 0 215,800,000 215,800,000
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 215,800,000 215,800,000
2. Estimated Total Revenues 0 0 0

Explanation of above estimates (including long-range effect):

    To determine the costs associated with this legislation, the number of STEM majors minus the current STEM majors receiving PROMISE scholarships was multiplied by the total tuition and room and board for each institution. This total was added to the number of PROMISE scholar STEM majors multiplied by tuition and room and board minus the current amount of their Promise scholarship for each institution. If an institution did not have room and board charges, it was assumed that the amount they would charge would be the average room and board charges for the other institutions.



    Person submitting Fiscal Note: Ed Magee
    Email Address: