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