FISCAL NOTE
Date Requested: January 13, 2022
Time Requested: 02:45 PM |
| Agency: |
Development Office |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1872 |
Introduced |
HB4002 |
|
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
General Revenue
Sources of Revenue:
General Fund
Legislation creates:
Creates New Expense, Creates New Program
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.
Would need to add one FTE to run the new matching grant and micro grant programs. So along with the $10,000,000 for the programs we would need funding for a position, benefits and all the related employment supplies, computer equipment, etc.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2022
Increase/Decrease
(use"-") |
2023
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
81,000 |
77,500 |
| Personal Services |
0 |
67,500 |
67,500 |
| Current Expenses |
0 |
13,500 |
10,000 |
| 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.
Personal Services of $50,000 along with benefits of $17,500.
Current expenses would include one-time fees for computer equipment as well as ongoing fees for supplies, travel, OASIS user fee, PEIA fee and any other incidental employee costs.
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.
Not in this fiscal note is the amount that the Legislature may choose to appropriate for the matching grant and micro grant programs. We believe the number discussed is $10,000,000 but that amount would also have an ongoing fiscal impact as well.
Person submitting Fiscal Note: Steve Meester
Email Address: Steve.Meester@wv.gov