FUND(S):



Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    Continuation of cessation of deposits into this fund will result in absence of funding sources available in West Virginia for implementation of rail related projects.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2014
Increase/Decrease
(use"-")
2015
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 -43,000,000 0


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


    Absence of SRIE deposits will result in decrease of $4.3 million available for use by WVPPA in FY2015 and same amount in FY2016 per proposed legislation.



Memorandum


    SRIE deposits were not made for FY2014, per 2013 Legislature. Current proposal would continue cessation of deposits into SRIE account for FY2015 and FY2016.



    Person submitting Fiscal Note: Lorrie Hodges
    Email Address: Lorrie.a.hodges@wv.gov