FISCAL NOTE
Date Requested: February 04, 2020
Time Requested: 11:04 AM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2891 |
Introduced |
HB4665 |
|
|---|
| CBD Subject: |
Appropriations |
|---|
|
FUND(S):
State Funds
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed House Bill 4665 is to reduce the proportional amount of State Purchasing Card Program rebates going to the Purchasing Improvement Fund from 15.5% to 10%, and to instead transfer 5.5% of such rebates to the Entrepreneurship and Innovation Investment Fund.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2020
Increase/Decrease
(use"-") |
2021
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):
After reviewing the provisions of the proposed Bill, we believe enactment of the Bill would have no impact on either total State revenues or total State expenditures. The only financial impact of the proposed legislation is to reduce the distributive share of State Purchasing Card Program rebates being directed currently to the West Virginia Department of Administration, Purchasing Division to the credit of the Purchasing Improvement Fund from 15.5% to 10% resulting in a 5.5% reduction of rebate transfers to the Purchasing Improvement Fund and to direct this 5.5% of such rebates to be transferred instead to the Entrepreneurship and Innovation Investment Fund.
Memorandum
We have no additional comments regarding the provisions of proposed House Bill 4665.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov