FISCAL NOTE
Date Requested: January 25, 2023
Time Requested: 10:46 AM |
| Agency: |
Commerce, WV Dept of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2560 |
Introduced |
SB157 |
|
|---|
| CBD Subject: |
Natural Resources |
|---|
|
FUND(S):
Special
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Expense
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Upon passage of SB157, the Coalfield and Community Development Fund (3162) would incur new expenditures in personnel for the hiring of a director, assistant director, and a clerical employee. Fund 3162 would also incur the cost of fringe benefits, rent, travel, computer, and Utilities. DED estimates the cost to be $300,000 per year. Currently Fund 3162 has a cash balance of $1,959,222.79 and the incoming revenue for blasting fees is minimal due to the decrease in surface mining in the State of WV. A designated revenue source would be needed after around 6.5 years.
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 |
300,000 |
0 |
| Personal Services |
0 |
234,000 |
0 |
| Current Expenses |
0 |
66,000 |
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):
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.
Director Salary: $80,000
Assistant Director: $60,000
Clerical: $40,000
Fringe Benefits: $54,000
Current Expenses: Rent, Travel, Computer, Utilities $66,000
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.
The current fund 3162 is a DED fund and not Commerce. SB157 should be change to DED from Commerce.
Person submitting Fiscal Note: Tia C. Shannon
Email Address: tia.c.shannon@wv.gov