FISCAL NOTE
Date Requested: February 03, 2023
Time Requested: 02:03 PM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3408 |
Introduced |
SB555 |
|
|---|
| CBD Subject: |
Banking and Finance |
|---|
|
FUND(S):
State Funds
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed Senate Bill 555 is to prohibit banking institutions and payment networks from requiring firearms retailers to adopt a merchant category code or transmit B2B data that would specifically identify the firearms retailer as a retailer of firearms, firearm accessories, or ammunition. Banking institutions violating this prohibition would receive a 10-point deduction on the technical section of the procurement scoring of the local or State purchasing card contract when bids are tabulated.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2023
Increase/Decrease
(use"-") |
2024
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 have examined the provisions of the proposed legislation. We are unable to provide any reliable projections of the potential financial impacts of the proposed Bill. Since the required 10-point deduction in the technical scoring of Vendor Proposals regarding the Local Purchasing Card Program and the State Purchasing Card Program was not in place during our prior bidding sessions, we have no ability to ascertain what the impacts may have been on bidder submissions. Accordingly, any increases or decreases in the costs of the Programs and potential impacts on the amounts of and structuring of Purchasing Card rebates offered by bidders or the mix of bidders electing to participate in the process would be a hypothetical exercise with no ability to ascertain the accuracy of any such projections.
Memorandum
We have no additional comments regarding this proposed legislation.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov