FISCAL NOTE

Date Requested: January 30, 2023
Time Requested: 10:38 AM
Agency: Municipal Pensions Oversight Board
CBD Number: Version: Bill Number: Resolution Number:
3084 Introduced HB3119
CBD Subject: Retirement


FUND(S):

Special Revenue

Sources of Revenue:

Special Fund

Legislation creates:





Fiscal Note Summary


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


The revisions included in this bill will not increase or decrease revenues or expenditures for the Municipal Pensions Oversight Board.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2023
Increase/Decrease
(use"-")
2024
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):


The revisions included in this bill will not increase or decrease revenues or expenditures for the Municipal Pensions Oversight Board.



Memorandum


§8-15-8b(a)(16) (page 4, Line 67) of the bill modifies the allowable use of funds from the Municipal Pensions and Protection Fund and the Fire Protection Fund. The Municipal Pensions Oversight Board does not utilize either of these funds in the operation of normal business. The bill modifies §33-3-14d(c) by striking all of sub-section (2). This chapter of code does govern the funding utilized by the Municipal Pensions Oversight Board, but the elimination of this language would have no impact on the Board or it's constituents. Changes made to §33-3-33 would have no impact on the Municipal Pension Oversight Board or it's constituents.



    Person submitting Fiscal Note: Matthew D. Pauley
    Email Address: matthew.d.pauley@wv.gov