FISCAL NOTE
Date Requested: February 13, 2023
Time Requested: 04:25 PM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3580 |
Introduced |
HB3361 |
|
|---|
| CBD Subject: |
Counties |
|---|
|
FUND(S):
State Funds; Federal Funds
Sources of Revenue:
Other Fund All State Fund Types - General Revenue and Federal Programs.
Legislation creates:
Creates New Expense, Creates New Program, Creates New Fund: Budget Surplus and American Rescue Plan Low-Income Assistance Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed House Bill 3361 is to allocate budget surplus and certain federal funds to county commissions and certain municipalities for the purpose of directly assisting low-income families and the community in general for each such jurisdiction.
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 |
300,000,000 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
300,000,000 |
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):
After reviewing the proposed legislation, the State Auditor believes the proposed legislation will not generate any new taxes or fees. The proposed funding for the Bill will be derived from State budget surpluses, either already collected or to be collected under current law and certain federal funds made available for drawdown to the State of West Virginia through the American Rescue Plan Act. We further believe the proposed Bill would create a new Program, a new Fund and would result in $300 Million in new expenses not currently contained in the State Budget. We have no ability to ascertain what, if any, additional administrative expenses might be required in order to effectuate the provisions of the proposed legislation and, accordingly, provide no estimates of those potential expenditures.
Memorandum
The provisions of the proposed Bill call for the provided funding to remain available for expenditure until July 1, 2027. In preparing our Fiscal Note, we have assumed the entire $300 Million would be included within the Fiscal Year 2024 State Budget and no additional funding would be made available in Fiscal Year 2025 or thereafter.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov