FISCAL NOTE

Date Requested: February 26, 2016
Time Requested: 01:26 PM
Agency: Lottery Commission
CBD Number: Version: Bill Number: Resolution Number:
2776 Amendment HB4625
CBD Subject: Agriculture


FUND(S):

State Road Fund

Sources of Revenue:

Other Fund State Road Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


This bill will increase revenues by redirecting deposits from the Greyhound Development Fund to the State Road Fund. Additional deposits to the State Road Fund will be approximately $3.7M upon full implementation.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
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 1,000,000 3,700,000 3,700,000


Explanation of above estimates (including long-range effect):


Revenue impact in FY16 was calculated for the remaining portion of the current fiscal year. FY17 is the first full year upon implementation. No additional costs will be incurred.



Memorandum


N/A



    Person submitting Fiscal Note: Danielle Boyd, Managing General Counsel
    Email Address: dboyd@wvlottery.com