FISCAL NOTE
Date Requested: February 11, 2016
Time Requested: 03:10 PM |
| Agency: |
Administration |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2526 |
Introduced |
HB4511 |
|
|---|
| CBD Subject: |
Finance and Administration |
|---|
|
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 proposed bill should not increase the costs to the Department of Administration, as it would prohibit any real estate purchases over $1 million until a report is made to the Legislature.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2016
Increase/Decrease
(use"-") |
2017
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 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The proposed bill should not increase the costs to the Department of Administration, as it would prohibit any real estate purchases over $1 million until a report is made to the Legislature.
Memorandum
The bill as introduced requires a report to be made to the Legislature before a purchase of any real property in excess of $1 million showing that the Department has "strengthened its financial resources." However, the language is vague and fails to provide a brightline threshold for the status of those "financial resources" before a purchase may be made.
Person submitting Fiscal Note: Jennelle H. Jones
Email Address: jennelle.h.jones@wv.gov