FISCAL NOTE
Date Requested: January 10, 2018
Time Requested: 02:58 PM |
| Agency: |
Real Estate Division, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1214 |
Introduced |
SB115 |
|
|---|
| CBD Subject: |
Agriculture |
|---|
|
FUND(S):
General Revenue
Sources of Revenue:
General Fund
Legislation creates:
Creates New Expense
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The bill would require the Real Estate Division to perform appraisals of all farms owned by the Department of Agriculture. Appraisals are not currently a function performed by the Real Estate Division. Additionally, the Real Estate Division has no expertise in unimproved or farm land, as it manages office space for state agencies. To comply with the provisions of the bill, the Real Estate Division would most likely contract for appraisal services meeting the criteria of the bill. The costs of the contract for those services is unknown.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
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 cost of appraisal services meeting the standards required by the bill is unknown.
Memorandum
Appraisals are not currently a function performed by the Real Estate Division. Additionally, the Real Estate Division has no expertise in unimproved or farm land, as it manages office space for state agencies. To comply with the provisions of the bill, the Real Estate Division would most likely contract for appraisal services meeting the criteria of the bill. The costs of the contract for those services is unknown.
Person submitting Fiscal Note: Jennelle H. Jones
Email Address: jennelle.h.jones@wv.gov