Honorable Dan Branch, Chair, House Committee on Higher Education
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
SB145 by Hinojosa (Relating to student loan repayment assistance for nurses employed as faculty members at certain institutions of higher education.), As Engrossed
Estimated Two-year Net Impact to General Revenue Related Funds for SB145, As Engrossed: an impact of $0 through the biennium ending August 31, 2013.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2012
$0
2013
$0
2014
$0
2015
$0
2016
$0
Fiscal Year
Probable Savings/(Cost) from Physician Ed. Loan Repayment 5144
2012
($250,000)
2013
($250,000)
2014
($250,000)
2015
($250,000)
2016
($250,000)
Fiscal Analysis
The bill would create a new nursing faculty loan repayment assistance program administered by the Higher Education Coordinating Board. To be eligible to receive loan repayment assistance, a nurse must apply to the Higher Education Coordinating Board, at the time of application for repayment assistance, have been employed full-time as a faculty member of a nursing degree program at an institution of higher education or a private or independent institution of higher education and comply with any additional requirements adopted by board rule. The amount of loan repayment assistance could not exceed $5,000 per year. Under provisions of the bill, the Higher Education Coordinating Board would reallocate any money under the physician education loan repayment program that exceeds the amounts necessary in that fiscal year for purposes of supporting up to 50 eligible applicants in the new program.
Methodology
For purposes of this fiscal note, the costs associated with the loan repayment amount are based on the maximum number of recipients, 50, times the maximum award amount of $5,000. Since this program is tied to the physician loan repayment program which is funded by the general revenue-dedicated account 5144, these costs are shown in the table above as general revenue-dedicated funds.
Administrative costs associated with implementing provisions of the bill would be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.