State of Alaska
Fiscal Note
Bill Version: HB 350
2022 Legislative Session
Fiscal Note Number: 1
(H) Publish Date: 4/4/2022
Identifier: HB350-EED-SDR-2-25-22 Department: Debt Service
Title: SCHOOL BOND DEBT REIMBURSEMENT Appropriation: School Debt Reimbursement
Sponsor: DRUMMOND Allocation: School Debt Reimbursement
Requester: House Education OMB Component Number: 153
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2023 Governor's
Appropriation FY2023 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2023 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
Personal Services *** *** *** *** *** *** ***
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous
Total Operating *** *** *** *** *** *** ***
Fund Source (Operating Only)
None
Total *** *** *** *** *** *** ***
Positions
Full-time
Part-time
Temporary
Change in Revenues
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Estimated SUPPLEMENTAL (FY2022) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2023) cost: 0.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? No
(Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? No
If yes, by what date are the regulations to be adopted, amended or repealed?
Why this fiscal note differs from previous version/comments:
Not applicable; initial version.
Prepared By: Heidi Teshner, Acting Deputy Commissioner Phone: (907)465-2875
Division: Finance and Support Services Date: 02/25/2022
Approved By: Lacey Sanders, Administrative Services Director Date: 02/25/22
Agency: Department of Education & Early Development
Printed 3/31/2022 Page 1 of 2 Control Code: cYLqt
 HB 350 - Fiscal Note 1
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO. HB 350
2022 LEGISLATIVE SESSION
Analysis
The bill amends AS 14.11.014(d), 14.11.100(a), 14.11.100(s), and 14.11.102(c) by changing the date the debt
reimbursement for school construction program will reopen from 7/1/2025, to 7/1/2022. The bill gives the department
the authority on or after 7/1/2022 to approve and allocate funds for department approved school debt projects. AS
14.11.100(a) is further amended by changing the reimbursement rate in AS 14.11.100(a)(18) from 50% to 70% for school
construction and major maintenance projects, and the rate in AS 14.11.100(a)(19) from 40% to 60% for school
construction projects that do not quality for additional space.
The bill take effect immediately under AS 01.10.070(c) and if the bill is signed after 7/1/2022 than the effective date of the
bill will be 7/1/2022.
The fiscal note is indeterminate as the Department of Education and Early Development does not know how many
municipalities will seek voter approval for new school capital debt that may qualify under this program or when they will
seek voter approval.
FY2024 will be the first year that new debt will be included in the Governor's Budget for the School Debt Reimbursement
Program since, per AS 14.11.102(a), the municipalities must request an allocation of funds under AS 14.11.100 by October
15 for the next fiscal year.
(Revised 11/23/2021 OMB/LFD) Page 2 of 2
HB350-EED-SDR-2-25-22 Page 2 of 2 Control Code: cYLqt


Statutes affected:
HB0350A, AM HB 350, introduced 02/22/2022: 14.11.014, 14.11.100, 14.07.020, 14.11.008, 14.11.102