FISCAL NOTE



FUND(S):



Sources of Revenue:

Other Fund Excess Lottery Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


There is no capacity in either the Lottery Fund or the Excess Lottery Fund to support any additional expenditures or obligations. The bill has no effect on the projected amount revenues of the Excess Lottery Fund. The Fund are projected to supply a finite amount of dollars already distributed by statutory distributions or appropriation by the Legislature. By introducing a new recipient of money from the Excess Lottery Fund, some other recipient, such as seniors, education, or tourism, will either receive reduced funding or none at all.



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 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 bill has no effect on the revenues of the Excess Lottery Fund -- those projections are set and in fact declining. The Lottery itself will experience no additional expenses; however any additional monies obligated from the Excess Lottery Fund will have to be made up in other areas.



Memorandum


The bill appears to authorize the bonding of an amount up to $52.5 million; however it also directs a one time deposit of the same amount to the Education, Arts, Sciences, and Tourism Debt Service Fund out of the Excess Lottery Fund. The Excess Lottery Fund is declining each year based upon current Lottery projections. By funding additional debt service, some other program will not be funded. The impact of the bill is such that other spending by the Legislature out of Excess Lottery will be reduced by the amount of debt service or other obligation created by this bill. There is simply no additional money available in either the Lottery Fund or the Excess Lottery Fund to create any additional expenditures.



    Person submitting Fiscal Note: Kathy Lawson
    Email Address: klawson@wvlottery.com