FISCAL NOTE
Date Requested: January 26, 2022 Time Requested: 01:13 PM |
Agency: |
Higher Education Policy Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1222 |
Introduced |
HB4415 |
|
CBD Subject: |
Education (Higher) |
---|
|
FUND(S):
General
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 4415, if enacted, would establish magnet schools on the campuses of colleges and universities throughout West Virginia. The proposed legislation creates the Katherine Johnson Academy, which will facilitate the creation of Academy magnet school programs through collaboration agreements by and among the Academy, the State Board of Education, the Higher Education Policy Commission, and colleges and universities in West Virginia.
The associated costs to be funded by additional appropriations are expected to be about $7 million.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2022 Increase/Decrease (use"-") |
2023 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
6,959,000 |
6,959,000 |
Personal Services |
0 |
29,000 |
29,000 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
6,930,000 |
6,930,000 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Students enrolling in the Academy will receive the PROMISE scholarship during their senior year of secondary education completed in the academy. The estimated costs are based on the following parameters:
- A three-year average of the number of PROMISE applicants who met the PROMISE academic
requirements at the end of 11th grade.
- A High School Grade Point Average of 3.0 or higher
- A Composite ACT score of 22 or higher, with sub scores of 20 or higher in English,
Mathematics, Science, and Reading or a composite SAT score of 1100 with a minimum
score of 520 in Math and minimum score of 530 in Evidence Based Reading and Writing.
- The Administrative cost is calculated at $20,000 per 1,000 students served.
Memorandum
Person submitting Fiscal Note: Ed Magee
Email Address: edward.magee@wvhepc.edu