FISCAL NOTE
Date Requested: January 12, 2022
Time Requested: 05:05 PM |
| Agency: |
Economic Development Authority, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1239 |
Introduced |
SB186 |
|
|---|
| CBD Subject: |
|
|---|
|
FUND(S):
9061
Sources of Revenue:
Special 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 purpose of the proposed bill is to create a new Small Business and Minority Populations Economic and Workforce Development Taskforce of which the Executive Director of the West Virginia Economic Development Authority, or his or her designee, would serve as a member. This new taskforce would be responsible for assisting the West Virginia Economic Development Authority in developing and implementing a program to promote small business growth and address employment, labor force participation and economic development challenges of low income and minority population in the state. No estimates of additional revenues can be made at this time. It is anticipated that additional administrative costs would be incurred by the West Virginia Economic Development Authority in implementing any such new program envisioned by the bill, including the addition of staff, as well as additional administrative costs incurred to reimburse taskforce members for their out-of-pocket expenses incurred in connection with the performance of their duties, including reimbursement for travel expenses to attend meetings.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2022
Increase/Decrease
(use"-") |
2023
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.
SB 186 is anticipated to increase the administrative costs of West Virginia Economic Development Authority but it is not possible to estimate the increase at this time. WVEDA is not able to make any estimate of additional revenues for State government that could arise as a result of any program implemented by the proposed taskforce.
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.
The use of the word "Director" of WVEDA on page 1, Line 3 and page 5, Line 98, which is inconsistent with the use of the words "Executive Director" elsewhere in the bill.
Person submitting Fiscal Note: Caren Wilcher
Email Address: caren.d.wilcher@wv.gov