FISCAL NOTE
FUND(S):
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.
Continuation of cessation of deposits into this fund will result in absence of funding sources available in West Virginia for implementation of rail related projects.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2014 Increase/Decrease (use"-") |
2015 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 |
-43,000,000 |
0 |
Explanation of above estimates (including long-range effect):
Absence of SRIE deposits will result in decrease of $4.3 million available for use by WVPPA in FY2015 and same amount in FY2016 per proposed legislation.
Memorandum
SRIE deposits were not made for FY2014, per 2013 Legislature. Current proposal would continue cessation of deposits into SRIE account for FY2015 and FY2016.
Person submitting Fiscal Note: Lorrie Hodges
Email Address: Lorrie.a.hodges@wv.gov