FISCAL NOTE
Date Requested: February 04, 2022
Time Requested: 11:23 AM |
| Agency: |
Department of Economic Development |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2308 |
Introduced |
HB4428 |
|
|---|
| CBD Subject: |
Actions, Suits and Liens |
|---|
|
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.
The purpose of this bill is to create the West Virginia Small Business COVID Relief Act. As currently written it would reside in Department of Commerce but this should instead be created in Department of Economic Development.
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 |
72,000 |
68,500 |
| Personal Services |
0 |
58,500 |
58,500 |
| 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):
One FTE at $45,000 plus $13,500 in employee benefits. Ongoing current expenses of $10,000 would include supplies, travel, fees and miscellaneous expenses as well as a one-time $3,500 for computer, phone and miscellaneous equipment.
Memorandum
Both the Department of Commerce and the Department of Economic Development are in agreement that the language in the bill should be changed to create this in the Department of Economic Development.
Person submitting Fiscal Note: Steve Meester
Email Address: Steve.Meester@wv.gov