FISCAL NOTE
Date Requested: January 15, 2015 Time Requested: 04:16 PM |
Agency: |
Transportation, Department of |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2348 |
Introduced |
SB268 |
|
CBD Subject: |
Tax |
---|
|
FUND(S):
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Cessation of deposits into this fund will result in absence of funding sources available in West Virginia for implementation of rail related projects.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 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 |
-4,300,000 |
0 |
Explanation of above estimates (including long-range effect):
Absence of SRIE deposits will result in decrease of $4.3 million available for use by West Virginia Public Port Authority in FY2016 and beyond.
Memorandum
SRIE deposits were not made for FY2014, per 2013 Legislature. Current proposal would cease these deposits. This will seriously impact the West Virginia Public Port Authority's ability to complete the Prichard Intermodal Facility, a Public Private Project in Wayne County, West Virginia.
Person submitting Fiscal Note: Lorrie Hodges
Email Address: lorrie.a.hodges@wv.gov