FISCAL NOTE
FUND(S):
General Revenue Fund & Special Railroad & Intermodal Enhancement Fund
Sources of Revenue:
General Fund,Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to eliminate the provision expiring provisions relating to requiring the deposit of moneys in the Special Railroad and Intermodal Enhancement Fund; and eliminate the $2,150,000 limit on the total amount to be deposited into the fund for the year 2016.
As written, this bill eliminates provisions in W.Va. Code §11-24-43a that limit the amount deposited in the “Special Railroad and Intermodal Enhancement Fund” for the year 2016, and also deletes language that would expire provisions requiring the deposit of any money into the same fund. As a result, moneys that would have remained in the General Revenue Fund after the expiration of these provisions will now be transferred to the “Special Railroad and Intermodal Enhancement Fund” indefinitely. In 2016, the transfer amount was to be limited to $2,150,000. With the passage of this bill, the entire annual amount of $4,300,000 will be transferred in 2016, and beyond.
There would be no additional administrative costs associated with the passage of this bill.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2010
Increase/Decrease
(use"-") |
2011
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):
The stated purpose of this bill is to eliminate the provision expiring provisions relating to requiring the deposit of moneys in the Special Railroad and Intermodal Enhancement Fund; and eliminate the $2,150,000 limit on the total amount to be deposited into the fund for the year 2016.
As written, this bill eliminates provisions in W.Va. Code §11-24-43a that limit the amount deposited in the “Special Railroad and Intermodal Enhancement Fund” for the year 2016, and also deletes language that would expire provisions requiring the deposit of any money into the same fund. As a result, moneys that would have remained in the General Revenue Fund after the expiration of these provisions will now be transferred to the “Special Railroad and Intermodal Enhancement Fund” indefinitely. In 2016, the transfer amount was to be limited to $2,150,000. With the passage of this bill, the entire annual amount of $4,300,000 will be transferred in 2016, and beyond.
There would be no additional administrative costs associated with the passage of this bill.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov