FISCAL NOTE
Date Requested: January 14, 2026
Time Requested: 04:32 PM |
| Agency: |
Commerce, WV Dept of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2265 |
Introduced |
HB4008 |
|
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
General Revenue - Personal Services
Sources of Revenue:
General Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
The bill would expand the amount of microgrant funding available for business ready site development from $75,000/site (the limitation in current code) to $100,000 for sites that are a minimum of five acres, to $250,000 for sites that are 20+ acres. The bill also provides that sites eligible for participation in the West Virginia Business Ready Sites Program as defined in §24-2-1n are eligible for access to funds from the Certified Sites and Development Readiness Fund as established in §5B-2-19(b), provided that the Department of Commerce must approve each such application for funding.
The Division of Economic Development manages the program with the help of a site development consultant. This consultant is funded with money from the Certified Sites and Development Readiness Fund.
The increased thresholds in this bill have no direct fiscal impact on DED operations.
Direct fiscal impact of these changes are limited to the amount of funds appropriated to the Certified Sites and Development Readiness Fund, assuming the continued use of outside consultants.
Funds appropriated in 2023 to the The Certified Sites and Development Readiness Fund have been fully committed to activities that will improve the readiness of sites in West Virginia. A significant increase in additional site readiness grant funding, as proposed, may require a dedicated and funded site readiness team within the WVDED that may work in coordination with external consultants to provide the expert site analysis needed to continue to grow the program.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
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):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Personal services and current expenses associated with the administration of this program, as amended by this bill, would be unchanged. The direct fiscal impact is limited to the amount of funds appropriated to the Certified Sites and Development Readiness Fund.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
NA
Person submitting Fiscal Note: Garner Marks
Email Address: garner.marks@wv.gov