Date Requested: January 14, 2022
Time Requested: 02:41 PM
Agency: Treasurer's Office, WV
CBD Number: Version: Bill Number: Resolution Number:
1799 Introduced SB8
CBD Subject: Finance and Administration


1303, 1316

Sources of Revenue:

Special Fund

Legislation creates:

Decreases Existing Expenses

Fiscal Note Summary

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

The bill makes important updates to the Code to reflect the recent termination of the Prepaid Tuition Program and consolidates the SMART529 College Savings Board and the Jumpstart Savings Board into a single board: “The Board of Trustees of the College and Jumpstart Savings Board.” The Treasurer's Office has determined that this legislation will create significant savings in administrative costs, investment management costs, and program start up costs.

Fiscal Note Detail

Effect of Proposal Fiscal Year
Fiscal Year
(Upon Full
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):

While the exact amount of cost savings from passage of this legislation is difficult to calculate, the State Treasurer's Office can estimate based upon the cost of implementing and administering similar sized programs a cost savings of approximately $300,000 annually in consulting, auditing, and administrative fees that would otherwise be required absent this legislation.


    Person submitting Fiscal Note: James Fuerhoff
    Email Address: