State of Alaska
Fiscal Note
Bill Version: CSSB 56(EDC)
2024 Legislative Session
Fiscal Note Number: 7
(S) Publish Date: 2/19/2024
Identifier: SB056CS(EDC)-EED-AEG-1-26-24 Department: Department of Education and Early Development
Title: AK PERFORMANCE SCHOLARSHIP; Appropriation: Student Financial Aid Programs
ELIGIBILITY Allocation: Alaska Education Grants
Sponsor: DUNBAR OMB Component Number: 3340
Requester: Senate Finance Committee
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2025 Governor's
Appropriation FY2025 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2025 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits 1,165.2 1,235.3 1,306.1 1,377.5 1,449.7 1,522.6
Miscellaneous
Total Operating 1,165.2 0.0 1,235.3 1,306.1 1,377.5 1,449.7 1,522.6
Fund Source (Operating Only)
1226 High Ed (DGF) 1,165.2 1,235.3 1,306.1 1,377.5 1,449.7 1,522.6
Total 1,165.2 0.0 1,235.3 1,306.1 1,377.5 1,449.7 1,522.6
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 (FY2024) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2025) 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? Yes
If yes, by what date are the regulations to be adopted, amended or repealed? 03/15/25
Why this fiscal note differs from previous version/comments:
New fiscal note required with adoption of committee substitute. Statute required additional funds be included for the Alaska Education
Grant program if funding is increased for the Alaska Performance Scholarship Awards. Updating SLA 2023 to SLA 2024 Fiscal Note
Template.
Prepared By: Sana Efird, Executive Director Phone: (907)465-2113
Division:
REPORT
Alaska Commission on Postsecondary Education Date: 01/26/2024
ED
SFC 02/1 OUT OF
Approved By: Tama Carson, Administrative Services Director Date: 01/26/24
Agency: Department of Education and Early Development
5/2024
Printed 2/16/2024 Page 1 of 2 Control Code: zWBvw
 CSSB 56(EDC) - Fiscal Note 7
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO. CSSB 56
2024 LEGISLATIVE SESSION
Analysis
Based on statute, the Alaska Education Grant will increase as a result of the projected Alaska Performance Scholarship
increase in this bill.
AS 14.43.915(c) Of the total amount available annually to the commission for payment of grants under AS 14.43.400 —
14.43.420 and for payment of scholarships under AS 14.43.810 — 14.43.849, one‐third of the combined amount in the
accounts established under (a) and (b) of this section shall be available solely for payment of grants awarded under AS
14.43.400 — 14.43.420. The commission shall annually allocate to all qualified applicants for scholarships awarded under
AS 14.43.810 — 14.43.849 two‐thirds of the combined amount in the accounts. If an insufficient number of qualified
applicants are awarded grants under AS 14.43.400 — 14.43.420 or scholarships under AS 14.43.810 — 14.43.849, or both,
before the end of that fiscal year, the commissioner shall redeposit the remaining funds into the Alaska higher education
investment fund established under AS 37.14.750.
(Revised 10/31/2023 OMB/LFD) Page 2 of 2
SB056CS(EDC)-EED-AEG-1-26-24 Page 2 of 2 Control Code: zWBvw


Statutes affected:
SB0056A, AM SB 56, introduced 02/06/2023: 14.43.820, 01.10.055, 14.17.990, 14.43.825
SB0056B, AM CSSB 56(EDC), introduced 05/02/2023: 14.43.820, 01.10.055, 14.17.990, 14.43.825, 14.43.849