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