Date Requested:March 07, 2011
Time Requested:02:31 PM
Agency: State Budget Office
CBD Number: Version: Bill Number: Resolution Number:
Comm. Sub. HB2732
CBD Subject: PUBLIC CAMPAIGN FINANCING ACT
FUND(S)
Unclaimed Property Trust Fund/General Revenue
Sources of Revenue
General Fund,Other Fund Unclaimed Property Trust
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

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

    This Fiscal Note only concerns cost related to the one-time transfer of $2 million from the Unclaimed Property Trust Fund (Fund 1342).
    
    W.V. Code §36-8-13 directs the Unclaimed Property Fund, after expenses, to transfer remaining monies in the fund to the Unclaimed Property Trust Fund. From monies in the Unclaimed Property Trust Fund, $1 million each year shall be transferred to the Prepaid Tuition Trust Escrow Fund, then the remaining fund balance to the General Revenue fund.
    
    This legislation would transfer one-time $2 million that would normally be available to the General Revenue Fund to the Supreme Court of Appeals Public Campaign Financing Fund.
    

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 -2,000,000 0 0
3. Explanation of above estimates (including long-range effect):
    This Fiscal Note only concerns cost related to the one-time transfer of $2 million from the Unclaimed Property Trust Fund (Fund 1342).
    
    W.V. Code §36-8-13 directs the Unclaimed Property Fund, after expenses, to transfer remaining monies in the fund to the Unclaimed Property Trust Fund. From monies in the Unclaimed Property Trust Fund, $1 million each year shall be transferred to the Prepaid Tuition Trust Escrow Fund, then the remaining fund balance to the General Revenue fund.
    
    This legislation would transfer one-time $2 million that would normally be available to the General Revenue Fund to the Supreme Court of Appeals Public Campaign Financing Fund.


Memorandum
Person submitting Fiscal Note:
Mike McKown
Email Address:
Mike.P.McKown@wv.gov