FISCAL NOTE
Date Requested: February 10, 2016 Time Requested: 01:45 PM |
Agency: |
Environmental Protection, Department of |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2591 |
Introduced |
SB576 |
|
CBD Subject: |
Real and Personal Property |
---|
|
FUND(S):
3322
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
THE PROPOSED LEGISLATION SHOULD INCREASE REVENUES IN THE OIL AND GAS RECLAMATION FUND. DUE TO THE LACK OF SPECIFICS IN THE LEGISLATION, IT CANNOT BE DETERMINED WHAT TYPE OF COSTS MAY BE INCURRED TO ACCOUNT FOR THE MONEY AND TO TRANSFER IT TO THE OIL AND GAS RECLAMATION ACCOUNT AND WHAT STATE AGENCY WOULD INCUR THESE COSTS.
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):
CURRENTLY THERE IS NOT ENOUGH INFORMATION TO CALCULATE AN ESTIMATE OF THE REVENUE THAT WOULD BE RECEIVED OR AN ESTIMATE OF ANY COSTS THAT MAY BE INCURRED TO ACCOUNT FOR THE TRANSFER OF THESE FUNDS TO THE OIL AND GAS RECLAMATION FUND.
IT IS ALSO UNCLEAR HOW THESE FUNDS WOULD BE IDENTIFIED AND THE ANTICIPATED SOURCES OF THE MONEY. DEP WAS UNABLE TO LOCATE ANYONE THAT COULD GIVE US AN IDEA OF THE AMOUNT OF FUNDS WE WOULD BE TALKING ABOUT OR WHO MAINTAINS THESE FUNDS CURRENTLY.
Memorandum
THIS PROPOSED LEGISLATION DOES NOT EXPLAIN WHAT AGENCY CURRENTLY HOLDS THESE FUNDS, HOW THEY ARE IDENTIFIED AS OIL AND GAS RELATED, WHAT AGENCY WOULD BE RESPONSIBLE FOR MAINTAINING THEM FOR THE FIVE YEARS THEY ARE UNCLAIMED, WHO WOULD DISBURSE THEM IF SOMEONE DID CLAIM THEM WITHIN THE FIVE YEAR PERIOD, AND WHAT AGENCY WOULD TRANSFER THE MONEY IF IT REMAINED UNCLAIMED FOR FIVE YEARS.
THIS LEGISLATION SHOULD INCREASE FUNDS IN THE OIL AND GAS RECLAMATION FUND BUT IT MAY ALSO INCREASE COSTS TO DEP, DEPENDING ON WHAT AGENCY IS RESPONSIBLE FOR ACCOUNTING FOR, HOLDING AND DISBURSING THE FUNDS.
Person submitting Fiscal Note: JEAN SHEPPARD
Email Address: JEAN.J.SHEPPARD@WV.GOV