FISCAL NOTE
Date Requested: February 22, 2024
Time Requested: 03:28 PM |
| Agency: |
Economic Development Authority, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3423 |
Amendment |
|
HCR87 |
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
Unknown
Sources of Revenue:
Other Fund Unknown
Legislation creates:
Creates New Expense
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This measure would create a new expense for the West Virginia Economic Development Authority (hereafter "WVEDA") as this agency does not have personnel or systems in existence to identify land parcels, track ownership of parcels, identify users of available parcels, or negotiate land costs associated with the acquisition of parcels of real estate.
That work and personnel, and those systems, are presently in place with the West Virginia Department of Economic Development, which includes in its assigned mission site location services and business attraction staff to pursue users of sites and business development prospects within the state.
It is the thought of this respondent that utilizing existing systems, personnel, and capabilities would result in a low-to-no additional cost solution to implement House Concurrent Resolution Number 2024R3423.
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 |
0 |
0 |
0 |
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.
Memorandum
House Concurrent Resolution Number 2024R3423 would be better implemented by the West Virginia Department of Economic Development due to that agency having the staff and systems in place to perform these services.
Person submitting Fiscal Note: J. Steven Webb
Email Address: Steven.J.Webb@wv.gov