FISCAL NOTE
Date Requested: February 14, 2022
Time Requested: 04:02 PM |
| Agency: |
Municipal Pensions Oversight Board |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2046 |
Introduced |
HB4279 |
|
|---|
| CBD Subject: |
Boards and Commissions |
|---|
|
FUND(S):
WV MUNICIPAL PENSIONS SECURITY FUND
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The revisions included in this bill will not increase or decrease revenues or expenditures for the Municipal Pensions Oversight Board.
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):
The revisions included in this bill will not increase or decrease revenues or expenditures for the Municipal Pensions Oversight Board.
Memorandum
The Municipal Pensions Oversight Board distributes monies from the WV Municipal
Pensions Security Fund. Lines 38 through 50 of the bill make reference to the Municipal
Pensions and Protection Fund. The initial collection of the insurance premium
surcharge is recorded in the Municipal Pension & Protection 1% Fire & Gas Tax fund.
The money is transferred quarterly to the WV Municipal Pensions Security Fund and all
allocations and disbursements to paid fire and police pension funds is made from that
fund.
Person submitting Fiscal Note: Michelle Painter
Email Address: michelle.t.painter@wv.gov