FISCAL NOTE
Date Requested: February 15, 2023
Time Requested: 09:57 AM |
| Agency: |
Lottery Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3596 |
Introduced |
HB3450 |
|
|---|
| CBD Subject: |
Legal Gaming |
|---|
|
FUND(S):
Lottery Fund
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 Lottery does not believe HB3450 will have a significant fiscal impact to revenues of state government. Currently, the racetrack modernization fund is funded up to $9 million annually and that does not change. The intent of HB 3450 is to allow casinos to utilize its modernization funds on more than just the purchase of new video lottery terminals and related equipment. Doing so may elevate administrative costs to the Lottery to review and approve requests and may reduce monies that ultimately expire to the Lottery fund for further appropriation, but the Lottery believes that any increase in cost to state government may likely be offset by increased revenue created by the modernization and improvement of the casino facilities. Currently, the effect of HB3450 on those costs and increases in revenue referenced herein are difficult to project.
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):
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.
The Lottery does not believe HB3450 will have a significant fiscal impact to revenues of state government. Currently, the racetrack modernization fund is funded up to $9 million annually and that does not change. The intent of HB 3450 is to allow casinos to utilize its modernization funds on more than just the purchase of new video lottery terminals and related equipment. Doing so may elevate administrative costs to the Lottery to review and approve requests and may reduce monies that ultimately expire to the Lottery fund for further appropriation, but the Lottery believes that any increase in cost to state government may likely be offset by increased revenue created by the modernization and improvement of the casino facilities. Currently, the effect of HB3450 on those costs and increases in revenue referenced herein are difficult to project.
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 Lottery does not believe HB3450 will have a significant fiscal impact on costs of state government. Currently, the racetrack modernization fund is funded up to $9 million annually and that does not change. The intent of HB 3450 is to allow casinos to utilize its modernization funds on more than just the purchase of new video lottery terminals and related equipment. Doing so may elevate administrative costs to the Lottery to review and approve requests and may reduce monies that ultimately expire to the Lottery fund for further appropriation, but the Lottery believes that any increase in cost to state government may likely be offset by increased revenue created by the modernization and improvement of the casino facilities. Currently, the effect of HB3450 on those costs and increases in revenue referenced herein are difficult to project.
Person submitting Fiscal Note: W. Brian Nickerson, General Counsel
Email Address: bnickerson@wvlottery.com