FISCAL NOTE
Date Requested: January 20, 2016
Time Requested: 05:13 PM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1138 |
Introduced |
SB109 |
|
|---|
| CBD Subject: |
Banking and Finance |
|---|
|
FUND(S):
Sources of Revenue:
Other Fund COUNTY FUNDS
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of the proposed Senate Bill 109 is to effectuate repeal of the provisions contained in Chapter 31A, Article 2, Section 4c of the West Virginia Code; Chapter 38, Article 1, Section 8a; and, Chapter 44, Article 13, Section 4a of the West Virginia Code. These sections of State law require the filing of reports by trustees concerning deeds of trust for property conveyed where such property is occupied or intended to be occupied as a residence by the grantor. The bill also repeals provisions which require the compilation and maintenance of information relating to certain deeds of trusts by county clerks and the West Virginia Housing Development Fund.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2016
Increase/Decrease
(use"-") |
2017
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):
We believe repeal of these various provisions of the West Virginia Code will have workload and fiscal impacts on the various County governments in West Virginia. However, we do not have sufficient documentary evidence necessary to quantify such fiscal impacts among the counties of the State.
Memorandum
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov