Date Requested:August 02, 2011
Time Requested:01:00 PM
Agency: State Budget Office
CBD Number: Version: Bill Number: Resolution Number:
201114002S Introduced SB1003
CBD Subject: SELL, LEASE OR CONVEY PROPERTY
FUND(S)
Sources of Revenue
General Fund,Special 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
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 0 0 0
3. Explanation of above estimates (including long-range effect):
    


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