FISCAL NOTE
FUND(S):
STATE ROAD FUND
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Estimated Income from the proposed legislation is estimated to be approximately $1,095,000 to be divided to maintenance of the Market Bridge and the Business Development Corporation of Brooke and Hancock Counties.
Monies have recently been allocated to repair the Market Street Bridge as a result of funding received from the American Recovery and Reinvestment Act (stimulus act) and a contract should be advertised shortly.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2009 Increase/Decrease (use"-") |
2010 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 |
-55,000 |
695,000 |
695,000 |
Explanation of above estimates (including long-range effect):
Average Daily Traffic 6000
x Toll .50
Estimated income 3000
x Days per year 365
Total Estimated Income $1,095,000
- Employee Costs 150,000
(1 emp($50,000)x 3 shifts)
Cost of toll booth construction: $750,000
YEAR ONE:
Total Yearly Collection $1,095,000
- Repayment of Toll Booth Construction 750,000
- Employee Costs 150,000
- 2 Inspections/Year (125,000) 250,000
Total Expenses 1,150,000
Remaining Income $ -55,000
Allocation:
Bridge Repair $-0-
Business Development Corp $-0-
YEAR TWO & CONT'D
Allocation $1,095,000
- Expenses (Employee Costs & Inspections) 400,000
Income 695,000
Breakdown:
50% Bridge Repair $347,500
50% Business Development Corp $347,500
Memorandum
There is a conflict in the legislation and current Code. A priviso may need to be incorporated to revise WV 17-3-1 which states that all monies collected shall be used for payment of principal and interest on bonds, to pay for the administration of the road department and "(c) to pay the cost of maintenance, construction, reconstruction and improvement of all state roads."
The bill makes no allowance for yearly personnel costs and 2 bridge inspections. Also, there is no provision to allow the toll to increase in accordance with CPI, etc.
Person submitting Fiscal Note: Kathy Holtsclaw
Email Address: Kathy.J.Holtsclaw@wv.gov