FISCAL NOTE
Date Requested: February 26, 2016 Time Requested: 01:26 PM |
Agency: |
Racing Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2776 |
Amendment |
HB4625 |
|
CBD Subject: |
Agriculture |
---|
|
FUND(S):
Greyhound Breeding Development Fund
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.
HB4625 redirects funding that is currently deposited into the Greyhound Breeding Development Fund and earned by West Virginia Greyhound Breeders as a supplemental purse award to the State Road Fund.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2016 Increase/Decrease (use"-") |
2017 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):
Projected deposits into the West Virginia Greyhound Breeding Development Fund for 2017 are $3,211,813. Pass through funding associated with the Greyhound Breeding Development Fund as a result of Racetrack Video Lottery and the Supplemental Purse Program/Unredeemed Tickets totals approximately $600,000. However, HB4625 directs these deposits to a dedicated source and therefore will not be a realized increase in revenue to the Legislature for appropriation.
Memorandum
House Bill 4625 essentially defunds the greyhound breeding industry in the state of West Virginia by removing a source of funding that is exclusive to the owners of West Virginia bred greyhounds. However, the bill does not officially end the practice of greyhound racing nor does it end the state’s requirement to regulate greyhound racing.
The West Virginia Racing Commission depends on administrative funding that results from West Virginia Greyhound Breeding Development Fund deposits. Requiring the WV Racing Commission to continue to regulate greyhound racing without revenue generated from the Greyhound Breeding Development Fund would create an undue financial hardship on the Commission. The Commission currently expends approximately $775,000 annually to regulate greyhound racing and without the administrative funds associated with the West Virginia Greyhound Breeding Development Fund would likely require a $600,000 annual appropriation from the Legislature to continue operations.
Person submitting Fiscal Note: Joe Moore, WVRC Executive Director
Email Address: joe.k.moore@wv.gov