FISCAL NOTE
There is no fiscal impact over
the fiscal note projection period (FY 2006 though FY 2008.
The Legislature will experience an estimated annual
expenditure increase of approximately $512,000 per fiscal year in the form of
increased legislative compensation. This bill is effective on January 5, 2009,
which would impact the second half of fiscal year 2009 only. The estimated
fiscal impact for FY 2009 is $256,000 (one-half of $512,000).
Source of expenditure increase:
- Legislative
salary for 4 days per month for floor leaders and committee chairman, 6
days per month for speaker of the house and Senate President, and 2 days
per month for all other members for each month the legislature is not in
session
- Legislative
salary for one-half day of preparation for each day a committee meets
- Legislative
salary for one-half day of travel to or from interim committee activity.
Assumptions:
- Days
per month salary computation: A total of 236 additional days of
legislative pay x 10 months x $150 salary = $354,000 plus benefits of
$27,081 for a total of $381,081 per fiscal year.
- Committee
preparation computation: 80 committee days per year x 12 members x
one-half salary of $75 = $72,000 plus benefits of $5,508 for a total of
$77,508 per fiscal year.
- Committee
travel computation: 55 committee meetings each year x 12 member travel
days per meeting x one-half salary of $75 = $49,500 plus benefits of
$3,787 for a total of $53,287 per fiscal year.
- Total
fiscal year impact of all provisions = $381,081 + $77,508 + 53,287 =
$512,000 (rounded).
Prepared by: Dean Temte, LSO Phone: 777-7881