Honorable Judith Zaffirini, Chair, Senate Committee on Higher Education
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB699 by Ellis (Relating to higher education student loan repayment assistance for peace officers.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for SB699, As Introduced: a negative impact of ($7,560,000) through the biennium ending August 31, 2011.
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2010
($2,520,000)
2011
($5,040,000)
2012
($7,560,000)
2013
($10,080,000)
2014
($12,600,000)
Fiscal Year
Probable (Cost) from General Revenue Fund 1
2010
($2,520,000)
2011
($5,040,000)
2012
($7,560,000)
2013
($10,080,000)
2014
($12,600,000)
Fiscal Analysis
Under provisions of the bill, the Higher Education Coordinarting Board would create a peace officer loan repayment assistance program. A person that qualifies for the program could receive loan repayment assistance for up to five years. The total amount of the loan could not exceed $20,000.
Methodology
For purposes of this fiscal note it is assumed 630 peace officers would receive loan repayment awards of $4,000 per year beginning in fiscal year 2010. An additional 630 peace officers would be added to the program each year in the subsequent years. Based on these assumptions by fiscal year 2014, 3,150 peace officers would be receiving awards. Cost associated with implementing the program would be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.