FISCAL NOTE

Date Requested: January 25, 2023
Time Requested: 02:29 PM
Agency: Auditor, State of WV
CBD Number: Version: Bill Number: Resolution Number:
2943 Introduced HB2953
CBD Subject: Boards and Commissions


FUND(S):

State Funds

Sources of Revenue:

General Fund

Legislation creates:

Creates New Expense, Creates New Fund: Locality Cost-of-Living Adjustment Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


The purpose of proposed House Bill 2953 is to create the Commission on Cost-of-Living Adjustments. The Bill provides for a declaration of public policy and legislative findings. The Bill establishes the Commission and provides for membership and authority. The Bill establishes meetings for the Commission. The Bill provides for the Commission’s authority and duties. The Bill establishes commission reports and recommendations. The Bill provides for legislative action. The Bill further provides for applicability and exceptions. The Bill provides for rules. The Bill creates notice requirements. Finally, the Bill provides for the creation and administration of the Locality Cost-of-Living Adjustment Fund.



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 and we believe the initial steps of implementation of the Bill should it become law would have no substantive additional cost impacts in Fiscal Years 2023 and 2024. We arrived at our conclusions concerning the potential cost impacts during Fiscal Years 2023 and 2024 based on our belief any additional costs related to information gathering activities for the development of the Commission’s first report to the Governor and the Joint Committee on Government and Finance which is due by December 1, 2024 would be funded by legislative appropriations to the various agencies assisting the Commission in the assimilation of its initial report. It is also not possible at this time to arrive at a sound estimation of the potential costs related to the Bill upon full implementation until such time as the Commission has made a determination of its initial funding request for the Locality Cost-of-Living Adjustment Fund.



Memorandum


We have no additional comments with regard to the proposed legislation.



    Person submitting Fiscal Note: Michael E. Sizemore, CPA
    Email Address: Mike.Sizemore@wvsao.gov