FISCAL NOTE

Date Requested: January 25, 2023
Time Requested: 03:50 PM
Agency: Racing Commission, WV
CBD Number: Version: Bill Number: Resolution Number:
2927 Introduced HB3031
CBD Subject: Crime


FUND(S):

West Virginia Greyhound Breeding Development Fund

Sources of Revenue:

Special Fund

Legislation creates:





Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


HB3031 defunds and decouples Greyhound Racing resulting in an increase of revenues to the State by redirecting funds previously directed to Greyhound Racing to the State Excess Lottery Fund for appropriation by the State Legislature.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2023
Increase/Decrease
(use"-")
2024
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 17,200,000 17,200,000


Explanation of above estimates (including long-range effect):


The above estimated total revenues were compiled as follows: $9,200,000 in new money to State Excess Lottery Fund $8,000,000 freed up in appropriated money. $9,200,000= $7.5M [Greyhound Purses] +$1.7M [Development Fund] $8,000,000= 7.5M [Greyhound Purses] + 400,000 [RVL Pass-through] + $100,000 [Supplemental money] Estimated Total Revenues: $17,200,000



Memorandum


House Bill 3031 essentially defunds greyhound racing in the state of West Virginia without officially ending the activity. Should greyhound racing be discontinued, an additional $350,000 would also be available by discontinuing capital improvements reimbursement available to the greyhound tracks as this would no longer be necessary (ยง19-23-13c(b)(3)(A).



    Person submitting Fiscal Note: Joe Moore
    Email Address: joe.k.moore@wv.gov