FUND(S):

0589

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.


    SB 560, if enacted, would increase the recipients of the West Virginia Research Trust Fund to include all state land grant institutions of higher education, to redistribute funds,to deposit $25 million into the fund from the General Revenue Fund under certain conditions, and to establish a deadline and consequences for failure to obtain matching funds and donations.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2013
Increase/Decrease
(use"-")
2014
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 25,000,000 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


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


    



Memorandum


    



    Person submitting Fiscal Note: Ed Magee
    Email Address: emagee@hepc.wvnet.edu