FISCAL NOTE

Date Requested: January 10, 2020
Time Requested: 01:06 PM
Agency: Environmental Protection, Department of
CBD Number: Version: Bill Number: Resolution Number:
1425 Introduced HB4088
CBD Subject: Energy


FUND(S):

Oil and Gas Reclamation Fund

Sources of Revenue:

Special Fund

Legislation creates:

Increases Revenue From Existing Sources



Fiscal Note Summary


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


    Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
    
    This proposed legislation transfers unclaimed oil and gas proceeds, after seven years, to the Oil and Gas Reclamation Fund. Due to the lack of information regarding unclaimed amounts, it cannot be determined what effect this legislation would have on DEP revenues and expenses, except to say that revenues would be increased.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2020
Increase/Decrease
(use"-")
2021
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):


    Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
    
    DEP does not have any data regarding amounts of unclaimed oil and gas proceeds that could possibly be collected. Therefore, the agency cannot provide a determination as to the effect this legislation will have on revenues and expenses.



Memorandum


    Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
    
    N/A
    



    Person submitting Fiscal Note: Gary Rogers
    Email Address: gary.w.rogers@wv.gov