Date Requested:January 13, 2012
Time Requested:02:12 PM
Agency: Budget Office
CBD Number: Version: Bill Number: Resolution Number:
2012R1198 Introduced HB4016
CBD Subject: PUBLIC CAMPAIGN FINANCING ACT
FUND(S)
Unclaimed Property Trust Fund 1342 /General Revenue
Sources of Revenue
General Fund,Other Fund Unclaimed Property Fund
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 addresses the impact related to the one-time transfer of $2 million from the Unclaimed Property Trust Fund (1342).
    
    WV Code §36-8-13 directs the Unclaimed Property Fund (1324), after expenses, to transfer remaining monies in the fund to the Unclaimed Property Trust Fund (1342). From monies in the Unclaimed Property Trust Fund, $1 million each year shall be transferred to the Prepaid Tuition Trust Escrow Fund (1326), then the remaining fund balance to the General Revenue fund.
    
    This legislation would transfer one-time (on or before 7/1/2012) $2 million, that would normally be available to the General Revenue Fund, to the Supreme Court of Appeals Public Campaign Financing Fund (1690).

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
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 addresses the impact related to the one-time transfer of $2 million from the Unclaimed Property Trust Fund (1342).
    
    WV Code §36-8-13 directs the Unclaimed Property Fund (1324), after expenses, to transfer remaining monies in the fund to the Unclaimed Property Trust Fund (1342). From monies in the Unclaimed Property Trust Fund, $1 million each year shall be transferred to the Prepaid Tuition Trust Escrow Fund (1326), then the remaining fund balance to the General Revenue fund.
    
    This legislation would transfer one-time (on or before 7/1/2012) $2 million, that would normally be available to the General Revenue Fund, to the Supreme Court of Appeals Public Campaign Financing Fund (1690).


Memorandum
Person submitting Fiscal Note:
Mike McKown
Email Address:
mike.p.mckown@wv.gov
    This fiscal note does not address the fee increases dealing with attorney & court fees contemplated in §3-12-6(12)-(16). The State Budget Office does not have information related to these fees.