FISCAL NOTE
Date Requested: February 17, 2021 Time Requested: 01:22 PM |
Agency: |
Treasurer's Office, WV |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2694 |
Introduced |
SB318 |
|
CBD Subject: |
Real and Personal Property |
---|
|
FUND(S):
1324--Unclaimed Property Fund
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The proposed legislation eliminates the requirement that the State Treasurer's Office publish the entirety of the Unclaimed Property registry annually in printed newspapers. Instead, the legislation requires the Treasurer to advertise the existence of the database and general information about unclaimed property in print newspapers in the state on an annual basis and allows a person to request information regarding unclaimed property by telephone or by mail.
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 |
-220,000 |
-220,000 |
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 costs of of this publication for the previous fiscal year was $220,000. The cost savings from passage of this legislation will vary from year to year but does represent ongoing savings in future years.
Memorandum
Person submitting Fiscal Note: James Fuerhoff
Email Address: james.fuerhoff@wvsto.com