FISCAL NOTE
Date Requested: February 02, 2018
Time Requested: 01:33 PM |
| Agency: |
Athletic Commission, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2114 |
Introduced |
HB4403 |
|
|---|
| CBD Subject: |
Boards and Commissions |
|---|
|
FUND(S):
SPECIAL REVENUE
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Revenue
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.
29-5A-20 Currently, the Athletic Commission collects license fees and uses these fees to support the daily operation of the agency. If these license fees are reduced it will create a hardship on the agency and prevent them from meeting their financial obligations.
29-5A-3b Currently, the Athletic Commission retains surplus revenue at the end of the fiscal year to allow the agency to pay invoices that are received after the cut-off date, mainly the Attorney General expenses. Eliminating the ability of the commission to retain surplus revenue funds at the end of the fiscal year will create a hardship on the agency and prevent them from meeting their financial obligations each year.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
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 |
-18,000 |
-23,000 |
-28,000 |
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 decrease in revenue for FY2018 and FY2019 is calculated on the total number of licenses issued for each year and the amount of surplus funds available to retain for future financial obligations. The number of events held in West Virginia grows each year, therefore, creating an increase in licensees and revenue. Also, there will be two additional MMA promoters for FY2019 which will mean an increase in events and licensees. The decrease in license fees will be a direct effect on the decrease in revenue and will cause a financial hardship on the agency.
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.
Person submitting Fiscal Note: Crystal Crouch
Email Address: ccrouch@wvlottery.com