FISCAL NOTE
Date Requested: January 21, 2026
Time Requested: 04:50 PM |
| Agency: |
Environmental Protection, Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3032 |
Introduced |
HB4696 |
|
|---|
| CBD Subject: |
Environment |
|---|
|
FUND(S):
Special Fund
Sources of Revenue:
Special Fund
Legislation creates:
Increases Revenue From Existing Sources
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
HB4696 would allow DEP to deposit up to 30% of the AML-IIJA federal grants to be invested to earn additional funding for future acid mine drainage, underground mine fires, and subsidence projects.
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 |
1,047,250 |
7,245,355 |
10,741,775 |
Explanation of above estimates (including long-range effect):
HB 4696, if passed, would allow DEP to deposit 59M ($42 million from FY2024 IIJA Grant, and $17 million from FY2025 IIJA Grant) in the fourth quarter of FY2026. During FY2027, and the years after, DEP is expecting to deposit $42 million per year into the AMD-IIJA Set Aside fund. Applying the previous 5 years' average of 7.1% of earnings on investments with IMB, compounded annually, it's estimated that the investment earnings will be approximately:
FY2026 $1,047,250 (three months of fourth quarter FY2026)
FY2027 $7,245,355
FY2028 $10,741,775
Memorandum
None
Person submitting Fiscal Note: Gary Rogers
Email Address: Gary.W.Rogers@wv.gov