FISCAL NOTE
Date Requested: January 12, 2024
Time Requested: 04:55 PM |
| Agency: |
Lottery Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1084 |
Introduced |
HB4640 |
|
|---|
| CBD Subject: |
Appropriations |
|---|
|
FUND(S):
State Excess Lottery Fund
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
HB4640 will reduce deposits into the State Excess Lottery Fund in the amount of approximately $3,600,000 annually. The impact on State bonds would be negligible.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
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 |
-3,600,000 |
-3,600,000 |
-3,600,000 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
HB4640 will reduce deposits into the State Excess Lottery Fund in the amount of approximately $3,600,000 annually. The impact on State bonds would be negligible.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
HB4640 will reduce deposits into the State Excess Lottery Fund in the amount of approximately $3,600,000 annually. The impact on State bonds would be negligible.
Person submitting Fiscal Note: W. Brian Nickerson, General Counsel
Email Address: bnickerson@wvlottery.com