Capital construction financing.

03LSO-0221.C3

                                                         

FISCAL NOTE (HB0134)

 

 

 

 

 

 

 

 

This bill contains an authorization of 1 Full-Time position.

 

Source of potential revenue increase or decrease:

 

Potential redistribution of federal mineral royalty (FMR) revenues to bond repayment accounts

 

Assumptions:

 

Bill creates the Capital Financing Commission (CFC), and transfers from the State Loan and Investment Board to the CFC various bonding authority with the following new limits:

  1. up to $250 million for projects authorized by the legislature
  2. up to $60 million for loans and grants to cities and towns
  3. up to $350 million for school capital construction

 

The fiscal impact of establishing these bonding limits is indeterminable at this time, as it is unknown how many bonds might be issued, in what dollar amounts, and for what purposes.

 

Bill secures funds needed for school capcon bond repayment with FMRs, prior to distributions both under and over the $200 million cap. Current distributions to the University of Wyoming, cities & towns, and school capcon are not affected.

 

Bill creates new distributions of FMRs to take place prior to the distributions under the $200 million cap in the following priority:

  1. Funds needed for repayment of existing bonds
  2. $12 million as necessary to make payments on bonds issued under W.S. 21-15-108(a).
  3. $16 million as necessary to make payments on bonds issued under W.S. 9-5-405(a).

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881

 

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget. The following state agencies may be affected administratively:

 

Department of Administration and Information

State Treasurer’s Office

Office of State Lands & Investments