FISCAL NOTE
Date Requested: March 09, 2021
Time Requested: 10:48 AM |
| Agency: |
Lottery Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2478 |
Introduced |
SB10 |
|
|---|
| CBD Subject: |
Legal Gaming |
|---|
|
FUND(S):
Lottery
Sources of Revenue:
Special Fund
Legislation creates:
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.
SB 10, if passed, will not have any impact on Lottery and/or State Government costs or revenues presuming those programs awaiting appropriations from proceeds of the Lottery's Racetrack Table Game Operator's licensing program have monies to cover the 3 month delay in proceeds SB 10 will create. SB 10 amends W. Va. Code 29-22C-8 to change the Racetrack Table Game Operator License expiration and renewal date from June 30 and July 1 of each year to September 30 and October 1 of each year, respectively. The change in date allows for the four racetrack casinos in West Virginia casinos to enjoy the benefit of a full 12 month license as all have been able to do in prior years, given the 3-month shutdown caused by COVID-19.
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 impact given presumptions in Summary and Memorandum, below.
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.
SB 10 amends W. Va. Code 29-22C-8 to change the Racetrack Table Game Operator License expiration and renewal date from June 30 and July 1 of each year to September 30 and October 1 of each year, respectively. The change in date allows for the four West Virginia casinos that operate racetracks to enjoy the benefit of a full 12 month license as they have been able to do in prior years, given the 3-month shutdown caused by COVID-19. Not passing SB 10 would result in a loss of value for the Racetrack Table Games Operator's License of approximately $625,000. which represents the duration of the COVID-19 shut down relative to a calendar year (3/12, or 0.25) multiplied by the cost of the yearly license of $2,500,000.
Person submitting Fiscal Note: W. Brian Nickerson, Managing General Counsel
Email Address: bnickerson@wvlottery.com