The combined net fiscal impact would be a short-run cost equal to $106 million (= $108.5 million - $2.5 million), or $1,414 per ESA.
Note that the estimates discussed above are under an analysis that assumes a high average ESA amount and a relatively low switcher rate.
For an average ESA amount equal to $4,000 and a 90% switcher rate, the net state fiscal impact changes dramatically. This rate would fund 112,500 ESAs with the available $450 million in tax-credit account funds. Of this group, 101,250 would be switchers from public schools.