FUND(S):

Special Revenue

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.


    SB 380 --- Increases the amount of funds to be invested in the Board of Treasury Investments from the balance of funds on deposit in the Revenue Shortfall Reserve Fund from $100,000,000 to $500,000,000.
    
    Upon effective date of the bill, all securities currently invested by the IMB (approx. $232 million) would have to be liquidated to transfer the balance of funds to the BTI for investment which could incur investment losses depending on the monthly returns.
    
    The State Treasurer’s Office could provide better estimates on the investment gains or risks long-term.
    
    



Fiscal Note Detail


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 0 0


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


    



Memorandum


     Person submitting Fiscal Note: Tammy Scruggs
     Email Address: tammy.l.scruggs@wv.gov