Supplement: WV SB598 | 2024 | Regular Session | Treasurer's Office, WV
For additional supplements on West Virginia SB598 please see the Bill Drafting List
Bill Title: Relating generally to Hope Scholarship Program
Status: 2024-02-01 - To Finance [SB598 Detail]
Download: West_Virginia-2024-SB598-Treasurer_s_Office_WV.html
The majority of changes in the bill have no fiscal impact. The amendments to W. Va. Code §18-9A-25 are aimed at addressing program growth due to incoming kindergarteners. Currently, the Hope Board must approve all eligible applicants for the Hope Scholarship Program, which creates an unfunded mandate, absent a funding calculation that accounts for annual program growth. While it is difficult to predict how many students will join the program each year, the WVSTO estimates that approximately 1,900 kindergarteners may participate in the program each year based on historic homeschool and private school data. Using the total state aid per pupil figure for the '23-'24 school year ($5,180.41), incoming kindergarteners could account for approximately $9,842,779 million in increased funding need for the Hope Scholarship Program per year. However, the bill does not increase the cost of the program to the state, as it simply adjusts the funding calculation to match the eligibility mandate that was adopted by the Legislature in 2021.
Person submitting Fiscal Note: James Fuerhoff
Email Address: james.fuerhoff@wvsto.gov
Bill Title: Relating generally to Hope Scholarship Program
Status: 2024-02-01 - To Finance [SB598 Detail]
Download: West_Virginia-2024-SB598-Treasurer_s_Office_WV.html
FISCAL NOTE
| Date Requested: January 31, 2024 Time Requested: 03:56 PM |
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FUND(S):
1327Sources of Revenue:
Special FundLegislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The majority of changes in the bill have no fiscal impact. The amendments to W. Va. Code §18-9A-25 are aimed at addressing program growth due to incoming kindergarteners. Currently, the Hope Board must approve all eligible applicants for the Hope Scholarship Program, which creates an unfunded mandate, absent a funding calculation that accounts for annual program growth. While it is difficult to predict how many students will join the program each year, the WVSTO estimates that approximately 1,900 kindergarteners may participate in the program each year based on historic homeschool and private school data. Using the total state aid per pupil figure for the '23-'24 school year ($5,180.41), incoming kindergarteners could account for approximately $9,842,779 million in increased funding need for the Hope Scholarship Program per year. However, the bill does not increase the cost of the program to the state, as it simply adjusts the funding calculation to match the eligibility mandate that was adopted by the Legislature in 2021.
Fiscal Note Detail
| Effect of Proposal | Fiscal Year | ||
|---|---|---|---|
| 2024 Increase/Decrease (use"-") |
2025 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):
Memorandum
Person submitting Fiscal Note: James Fuerhoff
Email Address: james.fuerhoff@wvsto.gov
