FUND(S):

General Revenue and Special Revenue

Sources of Revenue:

General Fund,Other Fund private donation & pledge

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    The Legislature shall make available an additional $20 million from the state’s General Revenue Fund to be deposited into the West Virginia Research Trust Fund’s Bucks for Brains initiative. This additional $20 million is available only to West Virginia University and Marshall University to the extent one or both of those universities raise the same amount in matching funds. The funds made available by this subsection and any university matching funds may be used for the sole purpose of a Bucks for Brains program consistent with the state’s initiative



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 20,000,000 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 20,000,000 0
2. Estimated Total Revenues 0 20,000,000 0


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


    The Legislature shall make available an additional $20 million from the state’s General Revenue Fund to be deposited into the West Virginia Research Trust Fund’s Bucks for Brains initiative. This additional $20 million is available only to West Virginia University and Marshall University to the extent one or both of those universities raise the same amount in matching funds. The funds made available by this subsection and any university matching funds may be used for the sole purpose of a Bucks for Brains program consistent with the state’s initiative.
    
    The $20,000,000 in the above "Estimated Total Revenues" assumes that private donations and pledges match the $20,000,000 in General Revenue appropriations.



Memorandum


    It is not clear in the bill if the $20,000,000 made available from the General Revenue Fund is only a one-time appropriation.
    
    This fiscal note assumes it is only a one-time appropriation of $20,000,000. Person submitting Fiscal Note: Mike McKown
     Email Address: mike.p.mckown@wv.gov