FISCAL NOTE
FUND(S):
8635
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.
Each applicant for an original real estate broker or real estate salesperon license would be required to submit to a background check of their criminal record through the West Virginia State Police (WVSP) database and the Federal Bureau of Investigation (FBI) database.
The cost of the WVSP check is $20.00, and the cost of the FBI check is $24.00.
Total one-time cost per applicant is $44.00.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2007
Increase/Decrease
(use"-") |
2008
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
70,400 |
0 |
70,400 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
70,400 |
0 |
70,400 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
70,400 |
0 |
70,400 |
Explanation of above estimates (including long-range effect):
The above estimates were based on 1,600 new applicants per year.
Current expense will increase or decrease depending on the number of applicants applying for a real estate license each fiscal year.
The increased revenue will equal the increased expense because each applicant will pay the actual cost of having the criminal background checks performed as part of the application process.
Memorandum
None
Person submitting Fiscal Note: Richard E. Strader
Email Address: Richard.Strader@wvrec.org