FISCAL NOTE
Date Requested: February 03, 2015
Time Requested: 02:30 PM |
| Agency: |
Racing Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2609 |
Introduced |
HB2575 |
|
|---|
| CBD Subject: |
Legal Gaming |
|---|
|
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.
The bill calls for a reduction in the minimum number of Live Race Days a thoroughbred racetrack is required to conduct to 185, previously 210. Such reduction would result in a decrease in State revenue by $31,250. There is no resulting increase/decrease to State costs.
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 |
-31,250 |
-31,250 |
Explanation of above estimates (including long-range effect):
The decrease in revenue is calculated by multiplying the State Share of Pari-mutuel Wagering ($1,000 per race day) and the Daily License Tax ($250 per race day) by the reduction of 25 race days.
Memorandum
Person submitting Fiscal Note: Joe Moore
Email Address: joe.k.moore@wv.gov