FISCAL NOTE
Date Requested: February 28, 2025
Time Requested: 03:06 PM |
| Agency: |
Treasurer's Office, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2329 |
Introduced |
SB465 |
|
|---|
| CBD Subject: |
Finance and Administration |
|---|
|
FUND(S):
9152
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
After discussion with the Board's investment managers, the office estimates the cost of various ETF's that meet the criteria of the legislation would vary between 25-190 basis points. For context, the Board's Money Market Pool costs approximately 3 basis points to administer.
Additionally, Board staff would be required to issue an RFP/RFQ for these services, the cost of which is unknown at this time.
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):
While the proposed legislation will increase cost, the Board of Treasury Investments is unable to predict the potential cost of the legislation at this time.
Memorandum
Person submitting Fiscal Note: James Fuerhoff
Email Address: james.fuerhoff@wvsto.gov