|Date Requested:August 02, 2011
Time Requested:01:00 PM
| FUND(S) |
Sources of Revenue
|General Fund,Special Fund|
Legislation creates:A New Fund
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.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||0||0|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):
|An appropriated special revenue fund would need Legislative approval for spending authority for the proceeds when sale contract is approved.|