FISCAL NOTE

Date Requested: March 22, 2021
Time Requested: 04:14 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2288 Introduced SB488
CBD Subject: Economic Development


FUND(S):

Local Funds

Sources of Revenue:

Other Fund Local Government - Hotel Occupancy Tax

Legislation creates:





Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


The purpose of proposed Senate Bill 488 is to establish requirements for convention and visitors' bureaus to receive a distribution of hotel occupancy taxes and to ensure sufficient reporting and oversight of the operation and finances of the bureaus.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2021
Increase/Decrease
(use"-")
2022
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 are unable to identify any additional direct costs to the State or political subdivisions of the State which would result from enactment of the proposed legislation. Specifically, we are confident the State Auditor’s Office can implement its role in the proposed legislation utilizing current staff and resources.



Memorandum


We have no additional comments regarding the proposed legislation.



    Person submitting Fiscal Note: Michael E. Sizemore, CPA
    Email Address: Mike.Sizemore@wvsao.gov