FISCAL NOTE

Date Requested: February 12, 2021
Time Requested: 02:59 PM
Agency: Economic Development Authority, WV
CBD Number: Version: Bill Number: Resolution Number:
2600 Introduced HB2019
CBD Subject: Economic Development


FUND(S):

9061

Sources of Revenue:

Other Fund Special Revenue

Legislation creates:





Fiscal Note Summary


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


The purpose of the proposed bill is to reorganize and redesignate the West Virginia Development Office as a newly created Department of Economic Development and the West Virginia Tourism Office as a newly created Department of Tourism, each as new departments under the executive branch of state government. The proposed bill makes no changes to the West Virginia Economic Development Authority, which is an independent agency under the supervision of the Department of Commerce, and will have no fiscal impact on West Virginia Economic Development Authority’s costs or revenues. The West Virginia Development Office and the West Virginia Tourism Office, both impacted by the proposed bill, should each be requested to submit a fiscal note to provide their estimate of the impact on costs and revenues of state government.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2021
Increase/Decrease
(use"-")
2022
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. No fiscal impact to the West Virginia Economic Development Authority.



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. None, except the West Virginia Economic Development Office and West Virginia Tourism Office should submit fiscal notes for this proposed bill.



    Person submitting Fiscal Note: Caren Wilcher
    Email Address: caren.d.wilcher@wv.gov