FISCAL NOTE

House Bill 456 as introduced would establish the Education Trust Fund (ETF) Debt Service Sinking Fund within the State Treasury to provide funding for the ETF portion of debt service due on certain outstanding bonds until maturity. This bill provides that the Legislature may make an appropriation to this fund and that any funds remaining in this sinking fund after the payment of these obligations shall be transferred to the ETF in the fiscal year immediately following the year in which the last obligations are met.

The FY 2022 ETF Supplemental Appropriation bill (House Bill 138), as passed the House of Representatives, includes an appropriation of $200 million to the sinking fund as established by this bill.