FUND(S):



Sources of Revenue:

General Fund

Legislation creates:

A New Fund



Fiscal Note Summary


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


    HB 102, if enacted, would amend Chapter 18B-19-10 to remove the requirement that any proceeds from the sale, lease or other disposal of real property that is used jointly by institutions or for state wide programs under the jurisdiction of the commission or council be transferred to the General Revenue fund of the State. The West Virginia Network (WVNET) is contemplating the sale of its property; no additional state funds are required to complete the sale. The proceeds from the sale will be used to acquire or build facilities to house WVNET. Anticipated proceeds from this transaction were not included in the calculation of fiscal year 2012 general revenues.



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


    An appropriated special revenue fund would need Legislative approval for spending authority for the proceeds when sale contract is approved. Person submitting Fiscal Note: Mike McKown (w/ input from Ed Magee, Higher Ed)
     Email Address: Mike.P.McKown@wv.gov