FISCAL NOTE
Date Requested: March 05, 2021
Time Requested: 11:12 AM |
| Agency: |
Lottery Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2561 |
Introduced |
HB2938 |
|
|---|
| CBD Subject: |
Actions, Suits and Liens |
|---|
|
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.
HB 2938 will not have an effect on Lottery revenue or costs. The bill simply amends the 3% of net terminal income from racetrack video lottery that is currently split evenly between the WV Thoroughbred Development Fund and the Greyhound Breeding Development Fund, to allow the WV Thoroughbred Development Fund to receive 1.5% of net terminal income from those tracks that operate Thoroughbred racing and the WV Greyhound Breeding Development Fund to receive 1.5% of net terminal income from those tracks that operate greyhound racing.
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.
See memorandum, below, and summary, above.
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.
HB 2938 purports to amend certain appropriations permitted by HB 101, passed on March 14, 2014. Such bill additionally amended or added the following sections: 29-22-18d, 29-22A-10d, 10e, 10f, 29-22C-27a and 29-25-22b. Lottery recommends consideration should be made to confirm all proper code sections added by HB 101 are properly amended to allow for the intent of HB 2938 to be actualized.
Person submitting Fiscal Note: W. Brian Nickerson, General Counsel
Email Address: bnickerson@wvlottery.com