FUND(S):

0453

Sources of Revenue:

General Fund

Legislation creates:

A New Program



Fiscal Note Summary


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


    In order to implement and enforce this legislation statewide to cover approximately 224 pawnshops and related businesses, the WVSP will need an additional 10 trooper and 6 civilian support staff positions, plus funding to cover the data processing equipment to accomodate this new registry.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 1,733,098 1,733,098
Personal Services 0 729,314 729,314
Current Expenses 0 125,600 125,600
Repairs and Alterations 0 0 0
Assets 0 585,660 585,660
Other 0 292,524 292,524
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    



Memorandum


    This fiscal note is based upon the regulation of 224 pawnshops and “cash for gold” type physical stores we have identified as a result of polling of our Troops/Detachments to estimate the level of work involved. Should the bill expand in scope beyond these type of permanent fixed locations or regulate more businesses than the estimate compiled by the WVSP, additional resources will be required. Person submitting Fiscal Note: Ron Twohig, Comptroller
     Email Address: rtwohig@wvsp.state.wv.us