LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: HB 728 HLS 24RS 1024
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: May 31, 2024 8:57 PM Author: DAVIS
Dept./Agy.: Board of Regents/LOSFA
Subject: M.J. Foster Promise Program Analyst: Chris Henry
HIGHER EDUCATION EN SEE FISC NOTE SD EX Page 1 of 1
Provides relative to initial eligibility requirements for the M.J. Foster Promise Program
Current law requires applicants to be at least 21 years old to qualify for the M.J. Foster Promise Program. Proposed
legislation changes the age requirement through a four-year phase-in lowering it to at least 20 years old in 2024-25, 19 in
2025-26, 18 in 2026-27, and finally to 17 in 2027-28 and thereafter.
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. $0 $0 $0 $0 $0 $0
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 $0 $0 $0 $0 $0 $0
EXPENDITURE EXPLANATION
There is no anticipated direct material effect on governmental expenditures as a result of this measure. The proposed
legislation broadens the pool of eligible students who could qualify for a M.J. Foster Promise Award; however, current law
limits state appropriations for students to $10.5 M annually. The program is currently funded by appropriations out of the
statutorily dedicated M.J. Foster Promise Program Fund which has no recurring source of revenue and relies on annual
transfers of SGF. Current law also states that in the event funding is not sufficient to fully fund all eligible awards, priority
will be given to previous award recipients who have met continuing eligibility requirements to be funded first followed by all
other eligible students.
Implementation of the M.J. Foster Promise Program, as provided in R.S. 17:3047.4, is subject to the appropriation of funds
by the legislature.
REVENUE EXPLANATION
There is no anticipated direct material effect on governmental revenues 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}
13.5.2 >= $500,000 Annual Tax or Fee Patrice Thomas
6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Deputy Fiscal Officer


Statutes affected:
HB728 Original: 17:2(A)(1), 17:2(A)(8)
HB728 Engrossed: 17:2(A)(1), 17:2(A)(8)
HB728 Enrolled: 17:2(A)(1)
HB728 Act 633: 17:2(A)(1)