Date Requested: February 03, 2015
Time Requested: 02:30 PM
Agency: Racing Commission
CBD Number: Version: Bill Number: Resolution Number:
2609 Introduced HB2575
CBD Subject: Legal Gaming


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.


    The bill calls for a reduction in the minimum number of Live Race Days a thoroughbred racetrack is required to conduct to 185, previously 210. Such reduction would result in a decrease in State revenue by $31,250. There is no resulting increase/decrease to State costs.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
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 -31,250 -31,250


Explanation of above estimates (including long-range effect):


    The decrease in revenue is calculated by multiplying the State Share of Pari-mutuel Wagering ($1,000 per race day) and the Daily License Tax ($250 per race day) by the reduction of 25 race days.



Memorandum


    



    Person submitting Fiscal Note: Joe Moore
    Email Address: joe.k.moore@wv.gov