FISCAL NOTE
Date Requested: February 03, 2015 Time Requested: 02:30 PM |
Agency: |
Racing Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2609 |
Introduced |
HB2575 |
|
CBD Subject: |
Legal Gaming |
---|
|
FUND(S):
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The bill calls for a reduction in the minimum number of Live Race Days a thoroughbred racetrack is required to conduct to 185, previously 210. Such reduction would result in a decrease in State revenue by $31,250. There is no resulting increase/decrease to State costs.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
-31,250 |
-31,250 |
Explanation of above estimates (including long-range effect):
The decrease in revenue is calculated by multiplying the State Share of Pari-mutuel Wagering ($1,000 per race day) and the Daily License Tax ($250 per race day) by the reduction of 25 race days.
Memorandum
Person submitting Fiscal Note: Joe Moore
Email Address: joe.k.moore@wv.gov