LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: SB 272 SLS 24RS 502
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: May 15, 2024 1:04 PM Author: EDMONDS
Dept./Agy.: Board of Regents/LOSFA/Workforce Commission
Subject: M.J. Foster Promise Program Analyst: Chris Henry
COLLEGES/UNIVERSITIES EN SEE FISC NOTE GF EX Page 1 of 1
Provides relative to the M.J. Foster Promise Award program. (gov sig)
Present law limits state appropriations for the M.J. Foster Promise Program to no more than $10.5 M annually with one pool
of funding available for qualifying students in both public institutions and proprietary schools. Proposed legislation would
increase the appropriated limit to no more than $40 M annually. Proposed legislation authorizes the Louisiana Workforce
Commission to convene the M.J. Foster Promise Advisory Council on an annual basis for updates on the program and once
every three years to review the workforce priorities of the state and its regions and to designate the programs of study that
qualify for program awards.
EXPENDITURES 2024-25 2025-26 2026-27 2027-28 2028-29 5 -YEAR TOTAL
State Gen. Fd. SEE BELOW SEE BELOW SEE BELOW SEE BELOW SEE BELOW
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other SEE BELOW SEE BELOW SEE BELOW SEE BELOW SEE BELOW
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total
REVENUES 2024-25 2025-26 2026-27 2027-28 2028-29 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. SEE BELOW SEE BELOW SEE BELOW SEE BELOW SEE BELOW
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total
EXPENDITURE EXPLANATION
To the extent the proposed legislation is enacted, the legislature may choose to increase appropriations up to $40 M for the
M.J. Foster Promise Program. Appropriations for the Program have historically been made from statutory dedications out of
the M.J. Foster Promise Program Fund, which has been funded solely from direct transfers of SGF.
Under current law, the Office of Student Financial Assistance (LOSFA) is allowed to retain 5% of the funding appropriated to
the Program for administrative expenses, which is retained in the proposed legislation. The administrative component cannot
exceed $525,000 (5% of $10.5 M) under current law. This amount under the proposed legislation would increase to a new
cap of $2 M (5% of $40 M). Additionally, LOSFA reports needing to make changes to its award system to match the
stipulations in the proposed legislation. This is estimated to require 30 hours of vendor time at a rate of $110 per hour for a
total cost of $3,300.
The Louisiana Workforce Commission reports no significant change in expenditures would result from the convening
requirements in the proposed legislation for the M.J. Foster Promise Advisory Council.
REVENUE EXPLANATION
If the appropriation for the M.J. Foster Promise Program increases beyond the current $10.5 M level, there will likely be an
increase in SGR revenues at two-year public postsecondary education institutions due to the enrollment of additional
students who could now qualify for and receive an M.J. Foster Promise award as a result of this measure.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Patrice Thomas
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Deputy Fiscal Officer


Statutes affected:
SB272 Original: 17:1(C), 17:4(C)(2)
SB272 Engrossed: 17:1(C), 17:4(C)(2)
SB272 Enrolled: 17:1(C), 17:4(C)(2)
SB272 Act 102: 17:1(C), 17:4(C)(2)