FISCAL NOTE
FUND(S):
Lottery Fund and Excess Lottery Revenue 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.
Each year, the Cultural Facilities and Capitol Resource Match Grant Program Fund (created by W.Va. Code 29-2-3) receives up to $1.5 million in racetrack video lottery proceeds through W.Va Code 29-22A- 10(c)(10). This bill would grant additional lottery funds to the Cultural Facilities and Capitol Resource Match Grant Program Fund by changing W.Va. Code 29-22A-10(c)(8)(B)to split the 0.375 percent share now received exclusively by the Development Office Promotion Fund so that the Cultural Facilities and Capitol Resource Match Grant Program Fund and the Development Office Promotion Fund would each receive 50% of the 0.375% share.
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):
No new revenue stream is created. Instead, the West Virginia Lottery calculates that if this change were in place in fiscal year 2009, the Cultural Facilities and Capitol Resource Match Grant Program Fund would have received an additional $1,455,465.20 and the Development Office Promotion Fund would have received $1,455,465.20 less Lottery money.
Memorandum
The only substantive change in this bill occurs in W.Va. Code 29-22A-10(c)(8)(B. )Other strike-throughs and underlining in 29-22A-10 and 29-22A-10b are for correction of archaic language.
Person submitting Fiscal Note: John Melton
Email Address: jmelton@wvlottery.com