FISCAL NOTE
Date Requested: January 12, 2024
Time Requested: 01:11 PM |
| Agency: |
Agriculture, WV Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2576 |
Introduced |
HB4625 |
|
|---|
| CBD Subject: |
|
|---|
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FUND(S):
Special Revenue - Agriculture Fees Fund
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Revenue, Decreases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
HB 4625 would repeal article 19-2C relating to the licensing and practice of auctioneers in the state. Repeal would result in lost revenue. Additionally, while the administration of article 19-2C would be eliminated, staff currently administering the program would be utilized elsewhere in the Department resulting in no net cost savings to the state, except for a de minimis amount associated with printing and mailing license renewals.
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 |
-200 |
-200 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
-200 |
-200 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
-45,000 |
-45,000 |
Explanation of above estimates (including long-range effect):
Average annual revenue for auctioneer licensing is estimated at $45,000 based on prior years' receipts.
The estimated net cost savings to the state is $200 related to printing and mailing of annual license renewals.
Memorandum
If article 19-2C is repealed, consumer protection would be greatly weakened in regard to public auctioneer sales, resulting in greater losses to the public (buyers and/or sellers) from improper or fraudulent sales practices.
Person submitting Fiscal Note: Alan Clemans, CFO/Director of Administrative Svcs
Email Address: aclemans@wvda.us