Date Requested:February 01, 2011
Time Requested:04:29 PM
Agency: Racing Commission
CBD Number: Version: Bill Number: Resolution Number:
2011R2426 Introduced SB365
CBD Subject: THOROUGHBRED DEVELOPMENT FUND
FUND(S)
ADMINISTRATION
Sources of Revenue
Other Fund LOTTERY & RACING ACTIVITY
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

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

    THE PROPOSED LEGISLATION PROVIDES MORE ADEQUATE FUNDING FOR THE COMMISSION TO PERFORM ITS STATUTORY DUTIES RELATED TO THE THOROUGHRBED DEVELOPMENT FUND (W.VA. CODE 19-23-13b).

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2011
Increase/Decrease
(use"-")
2012
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 0 375,000 375,000
3. Explanation of above estimates (including long-range effect):
    UNDER THE PROPOSED LEGISLATION, THE RACING COMMISSION WILL BE ABLE TO PROPERLY PAY THOSE EXPENSES RELATED DIRECTLY TO ADMINISTERING THE THOROUGHBRED DEVELOPMENT FUND (W.VA. CODE 19-23-13b)RATHER THAN SUPPLEMENT THE FUNDING WITH ITS GENERAL ADMINISTRATION FUNDS. THE COMMISSION WILL ALSO BE ABLE TO PROPERLY ALLOCATE COSTS OF KEY PERSONNEL FOR TIME DEVOTED TO THE ADMINISTRATION OF THE FUND. THIS WILL ELEVIATE FUNDS IN THE GENERAL ADMINISTRATION FUND TO BE USED IN HIRING NECESSARY PERSONNEL TO SECURE THE COMMISSION'S FUTURE COMPLIANCE WITH STATUTORY OBLIGATIONS.


Memorandum
Person submitting Fiscal Note:
JOE MOORE
Email Address:
JOEMOORE@WVNET.EDU