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State Impact:
This bill would reduce the School and Institutional Trust Lands Administration's (SITLA) administrative fee from 8 percent to 4 percent of monies received from
bonus payments, rentals, and royalties on minerals taken from parcels acquired in federal land exchanges. This would negatively impact SITLA by $450,000
in FY 2003 and by $250,000 in FY 2004. However, these same funds would positively impact the beneficiaries listed in the bill by becoming available for
distribution.
This bill also changes the distribution percentages of rentals and royalties on minerals from subject lands. Total rentals and royalties, after deducting SITLA's
four percent overhead fee (formerly eight percent) are estimated at $5,961,600 in FY 2003, and $5,880,000 in FY 2004, for distribution as shown in the bill.
Bonus Payment Impacts FY03 FY04
To United States $100,800 $2,500
To Perm Comm Impact Fund $24,515 $608
To Constl Def Rest Acct $40,320 $1,000
To Rural El Comm Comm Sys $30,240 $750
To Rural Devel Fund $5,725 $142
Total Bonus Payment Impact $201,600 $5,000
Rental and Royalty Impacts
To Land Grant Mgt Fund $124,200 $122,500
To Mineral Lease Account $715,760 $706,000
To Constl Def Rest Acct ($285,680) ($281,750)
To Rural El Comm Comm Sys ($223,558) ($220,480)
To Rural Devel Fund ($82,322) ($81,270)
Total Rental & Royalty Impact $248,400 $245,000
Total Combined Impact $450,000 $250,000
| Funding Source |
|
Restricted Funds
|
$450,000
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$250,000
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$450,000
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$250,000
|
|
Restricted Funds
|
($450,000)
|
($250,000)
|
($450,000)
|
($250,000)
|
| TOTAL |
$0
|
$0
|
$0
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$0
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Individual and Business Impact:
Individuals and groups who receive payments from the above-mentioned accounts may be impacted either positively or negatively, depending on the impact to
the individual account.
Office of the Legislative Fiscal Analyst
1/30/2002 10:37:13 AM
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