FISCAL NOTE
Date Requested: February 12, 2019
Time Requested: 09:51 AM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3110 |
Introduced |
SB553 |
|
|---|
| CBD Subject: |
Education (Higher) |
|---|
|
FUND(S):
0373
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.
Senate Bill 553, if enacted, would prohibit the state from seeking to waive its full federal matching obligation for 1890 land-grant institutions.
The cost associated with this legislation is about $1.4 million.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2019
Increase/Decrease
(use"-") |
2020
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
1,362,446 |
1,362,446 |
| Personal Services |
0 |
1,362,446 |
1,362,446 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
1,362,446 |
1,362,446 |
Explanation of above estimates (including long-range effect):
The federal land grant appropriation that West Virginia State University receives is about $3 million. The State matches about $1.6 million of this appropriation. An additional $1.4 million is required to match the federal appropriation for West Virginia State University.
West Virginia University’s land grant appropriation is about $8.1 million. The University’s match is completely funded from its state appropriations.
Memorandum
Person submitting Fiscal Note: Ed Magee
Email Address: edward.magee@wvhepc.edu