FISCAL NOTE
FUND(S):
0453
Sources of Revenue:
General Fund
Legislation creates:
A New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
In order to implement and enforce this legislation statewide to cover approximately 224 pawnshops and related businesses, the WVSP will need an additional 10 trooper and 6 civilian support staff positions, plus funding to cover the data processing equipment to accomodate this new registry.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2012 Increase/Decrease (use"-") |
2013 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
1,733,098 |
1,733,098 |
Personal Services |
0 |
729,314 |
729,314 |
Current Expenses |
0 |
125,600 |
125,600 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
585,660 |
585,660 |
Other |
0 |
292,524 |
292,524 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Memorandum
This fiscal note is based upon the regulation of 224 pawnshops and “cash for gold” type physical stores we have identified as a result of polling of our Troops/Detachments to estimate the level of work involved. Should the bill expand in scope beyond these type of permanent fixed locations or regulate more businesses than the estimate compiled by the WVSP, additional resources will be required.
Person submitting Fiscal Note: Ron Twohig, Comptroller
Email Address: rtwohig@wvsp.state.wv.us