FISCAL NOTE
Date Requested: February 13, 2018
Time Requested: 01:10 PM |
| Agency: |
Commerce, WV Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2609 |
Introduced |
HB4558 |
|
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
Entrepeneurship and Innnovation Investment Fund
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Revenue, Creates New Program, Creates New Fund: Entrepreneurship and Innovation Investment Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Funds will be used to support entrepreneurship, creation of business startups, improvements in workforce participation, and strengthening our state's overall talent pipeline.
There will be no funds until the Legislature or any external sources provide funds.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
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):
There will be no funds until the Legislature or any external sources provide funds.
Memorandum
We anticipate that funds that come in will be utilized for the purposes that are stated in code and therefore will have no overall fiscal impact at this time, however creation of new businesses will result in new revenue funds coming into the State of West Virginia overtime.
New job creation would be higher than average wages and would have a positive effect on revenue for the State.
Person submitting Fiscal Note: Kimberly Miller
Email Address: kimberly.l.miller@wv.gov