No fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $204,406.
The resolution would amend Article III of the Constitution, creating the Broadband Infrastructure Fund as a fund in the state treasury outside the General Revenue Fund. The fund would be administered by the Comptroller's office and would provide a method of finance for projects relating to the development of broadband and telecommunications services in the state.
Adoption of the proposed amendment alone would have no fiscal implications to the state. Any fiscal impact would be associated with the enabling legislation, HB9.
It is assumed that any costs associated with the resolution could be absorbed using existing resources.
This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
No significant fiscal implication to units of local government is anticipated.