FISCAL NOTE
Date Requested: February 06, 2015
Time Requested: 02:44 PM |
| Agency: |
Racing Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2468 |
Introduced |
HB2650 |
|
|---|
| CBD Subject: |
Legal Gaming |
|---|
|
FUND(S):
Sources of Revenue:
Special Fund
Legislation creates:
A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
As currently written, HB 2650 would have a negative impact on both revenues and costs for the West Virginia Racing Commission.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2015
Increase/Decrease
(use"-") |
2016
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
1,280,000 |
1,280,000 |
| Personal Services |
0 |
865,000 |
865,000 |
| Current Expenses |
0 |
210,000 |
210,000 |
| Repairs and Alterations |
0 |
5,000 |
5,000 |
| Assets |
0 |
200,000 |
200,000 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
-3,500,000 |
-1,500,000 |
Explanation of above estimates (including long-range effect):
Negative revenues in 2016 result from the loss of $1.1M in revenue generated from pari-mutuel wagering, $400,000 annual administrative funding for the West Virginia Greyhound Breeding Dev. Fund and the $2M accumulated administrative funds in agency fund 7307. Negative revenue going forward would result from the loss related to pari-mutuel wagering and WVGBDF admin.
The costs are representative of the approved 2016 budget for the Greyhound Breeding Dev. Fund. These costs will still be incurred as the bill provides no mechanism to end the regulation of greyhound racing.
Memorandum
The bill siphons off all sources of funds to go into a cessation fund to be paid out over a period of time. However, in the meantime, it does not abolish or cease greyhound racing, nor does it amend or change portions of the Lottery statutes which require that the casinos get a racing license and conduct racing in order to maintain and operate the casino. If the intent is to end greyhound racing in this state, provisions of the Horse and Dog Racing Act and the Lottery Act need to be amended and changed in tandem with what is provided for in this bill. Otherwise, the code will still require racing to be conducted in order to maintain casino licenses – with no funds, essentially, to conduct it.
Person submitting Fiscal Note: Joe Moore
Email Address: joe.k.moore@wv.gov