FUND(S):



Sources of Revenue:

Other Fund Infrastructure Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    The legislation proposed in SB 596 merely clarifies the intent of the existing Code. It will NOT increase costs to the State or to the Infrastructure Fund under any conceivable scenario.
    
    To the contrary, certain savings to the Infrastructure Fund may possibly result because the proposed language could have a positive effect on the timely and efficient issuance of future bonds already provided for under the existing statutory language.



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 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


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


    The change to WV Code 31-15A-17b(f) as proposed in SB 596 does NOT cause or create any additional expenses or costs to the Infrastructure Fund, nor does it propose any changes to the Excess Video Lottery revenue stream that is already provided for under the existing statutory language.



Memorandum


    NONE Person submitting Fiscal Note: James Ellars
     Email Address: jellars@wvwda.org