FUND(S):

0606

Sources of Revenue:

General Fund

Legislation creates:

A New Program



Fiscal Note Summary


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


    The purpose of this legislation is to authorize state agencies to provide development assistance to qualified recipients. It also requires state agencies to annually submit copies of all development assistance agreements to the Department of Revenue.The Department of Revenue will then compile and submit an annual unified economic budget to the Legislature. In order to compile and provide the necessary information to the Department Of Revenue the Department of Commerce will need one additional staff person.



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 80,000 80,000
Personal Services 0 67,500 67,500
Current Expenses 0 13,500 13,500
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):


    The above estimate is based on adding one additional person to to the Commerce Secretary's Office to compile the required information and keep track of the development projects.The costs above include salary,benefits, and operational expenses.



Memorandum


    None Person submitting Fiscal Note: Carl D Smith
     Email Address: carl.d.smith@wv.gov