FISCAL NOTE

Date Requested: March 08, 2017
Time Requested: 01:38 PM
Agency: Higher Education Policy Commission
CBD Number: Version: Bill Number: Resolution Number:
2747 Introduced HB2763
CBD Subject: Education (Higher)


FUND(S):

0596

Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    House Bill 2763, if enacted, would require the approval by the Council for Community and Technical College Education of acquisitions, bequests, donations, construction of new buildings, repairs, renovations or lease payments over the lifetime of the lease which exceed $1 million, if made or accepted by the institution’s research corporation or an affiliated foundation. Significant savings could be realized if the Council does not approve acquisitions that would fail to meet the State’s and the institutions’ needs while consuming institutional resources to pay unnecessary operating, repair and other costs. The magnitude of these savings will depend upon the projects submitted to the Council for approval. No additional costs are associated with this bill.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2017
Increase/Decrease
(use"-")
2018
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):


    



Memorandum


    



    Person submitting Fiscal Note: Ed Magee
    Email Address: edward.magee@wvhepc.edu