FISCAL NOTE
Date Requested: February 15, 2025
Time Requested: 11:40 AM |
| Agency: |
Financial Institutions, West Virginia Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1920 |
Introduced |
SB64 |
|
|---|
| CBD Subject: |
Banking and Finance |
|---|
|
FUND(S):
None
Sources of Revenue:
Other Fund None
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The bill will have a negligible effect on the revenues and expenses of state government. It creates a private cause of action for certain persons who may be injured by a violation of the law. It also allows the Attorney General to file a civil action for violations of the article.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
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 primary purpose of the bill is to prohibit financial institutions from discriminating against firearms businesses. It creates a private cause of action for persons injured by violations but also permits the Attorney General to bring a civil action if that individual deems it necessary. The Attorney General may better be able to determine whether there are more than negligible costs and revenues associated with the bill.
Memorandum
The bill generally does not directly impact the operations of the state other than creating the ability for the Attorney General to file a civil action for violations of the law outlined in the bill. It does not create any new programs.
Person submitting Fiscal Note: Kathy Lawson
Email Address: klawson@wvdob.org