FISCAL NOTE
Date Requested: January 25, 2024
Time Requested: 04:10 PM |
| Agency: |
Tourism, WV Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1854 |
Introduced |
HB5070 |
|
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
0265
Sources of Revenue:
General Fund
Legislation creates:
Creates New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Based on three-year average summary of total revenue generated by overnight and day-use resident guests and visitors to West Virginia State Parks, a 25% resident discount will have a significantly detrimental impact to the park system’s total revenue generation, reducing overall revenue by 17%, which will negatively impact overall self-sufficiency of the state parks and forests.
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 |
21,755,000 |
16,316,000 |
-5,439,000 |
Explanation of above estimates (including long-range effect):
BASED ON THREE YEAR AVERAGE
Average total state park revenue is: $31,231,000.
Average in-state resident revenue is: $21,755,000.
Average loss in revenue would be: -$5,439,000.
Will decrease total overall revenue by 17%.
Memorandum
For additional information concerning this fiscal note, please contact:
Paul A. Redford
Deputy Chief Parks
304-558-2764
paul.a.redford@wv.gov
Person submitting Fiscal Note: Amanda Morris
Email Address: amanda.l.morris@wv.gov