FUND(S):

Pari-Mutuel Wagering & Lottery

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.


    There will be no financial impact on state government as a result of HB4511. This will result in a reduction of assets on the Racing Commission's balance sheet and will have no income statement impact.



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 -2,000,000 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


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


    The bill only creates a balance sheet transaction. The reduction is in assets set aside from the Greyhound Breeding Dev. Fund to seperate bank accounts for the construction of training tracks. The bill call for the funds to revert back to the Greyhound Breeding Dev. Fund to be dispursed to qualifing participants. There will be no long-range impact on costs or revenues.



Memorandum


     Person submitting Fiscal Note: Joe Moore
     Email Address: joe.k.moore@wv.gov