FISCAL NOTE
Date Requested: January 29, 2020
Time Requested: 02:18 PM |
| Agency: |
Racing Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1358 |
Introduced |
HB4599 |
|
|---|
| CBD Subject: |
Legal Gaming |
|---|
|
FUND(S):
Special Revenue
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
HB4599 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 |
2020
Increase/Decrease
(use"-") |
2021
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 |
17,400,000 |
17,400,000 |
Explanation of above estimates (including long-range effect):
The above estimated total revenues were compiled as follows:
$10,200,000 in new money to State Excess Lottery Fund
$7,200,000 freed up in appropriated money.
$10,200,000= $7.0M [Greyhound Purses] +$3.2M [Development Fund]
$7,200,000= 6.8M [Greyhound Purses] + 300,000 [RVL Pass-through] + $100,000 [Supplemental
money]
Estimated Total Revenues: $17,400,000
Memorandum
House Bill 4599 essentially defunds greyhound racing in the state of West Virginia without officially ending the activity. In the event that greyhound racing would to continue without its current funding, requiring the WV Racing Commission to continue to regulate greyhound racing would place an undue financial hardship on the Commission. The Commission currently expends approximately $775,000 annually to regulate greyhound racing and there would be very little revenue associated with the activity to cover this cost.
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, WVRC Executive Director
Email Address: joe.k.moore@wv.gov