FISCAL NOTE
Date Requested: January 25, 2022
Time Requested: 04:16 PM |
| Agency: |
Natural Resources, WV Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2240 |
Introduced |
SB485 |
|
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
0265, 3265
Sources of Revenue:
General Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
There is no anticipated cost with the implementation of this bill but rather allows for the growth of revenue by way of private investment. The agency has not made a final determination on parks and/or facilities likely to be fully affected by this legislation. The general intention would be to stimulate private investment in some areas by creating new amenities or destinations which will enhance revenue and build tourism. Other areas or facilities currently under state management may also be considered for concession/management agreements such as the agency currently enjoys at Canaan Valley. All such projects or changes would need to be deemed cash neutral or profitable for the agency to consider them as viable. Each considered situation would likely require a financial review by private consulting to ensure that the investment and projected return is sound.
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 |
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):
Memorandum
Person submitting Fiscal Note: Amanda Morris
Email Address: amanda.l.morris@wv.gov