Date Requested: February 06, 2015
Time Requested: 02:44 PM
Agency: Racing Commission
CBD Number: Version: Bill Number: Resolution Number:
2468 Introduced HB2650
CBD Subject: Legal Gaming


FUND(S):



Sources of Revenue:

Special Fund

Legislation creates:

A New Fund



Fiscal Note Summary


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


    As currently written, HB 2650 would have a negative impact on both revenues and costs for the West Virginia Racing Commission.



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 1,280,000 1,280,000
Personal Services 0 865,000 865,000
Current Expenses 0 210,000 210,000
Repairs and Alterations 0 5,000 5,000
Assets 0 200,000 200,000
Other 0 0 0
2. Estimated Total Revenues 0 -3,500,000 -1,500,000


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


    Negative revenues in 2016 result from the loss of $1.1M in revenue generated from pari-mutuel wagering, $400,000 annual administrative funding for the West Virginia Greyhound Breeding Dev. Fund and the $2M accumulated administrative funds in agency fund 7307. Negative revenue going forward would result from the loss related to pari-mutuel wagering and WVGBDF admin.
    
    The costs are representative of the approved 2016 budget for the Greyhound Breeding Dev. Fund. These costs will still be incurred as the bill provides no mechanism to end the regulation of greyhound racing.



Memorandum


    The bill siphons off all sources of funds to go into a cessation fund to be paid out over a period of time. However, in the meantime, it does not abolish or cease greyhound racing, nor does it amend or change portions of the Lottery statutes which require that the casinos get a racing license and conduct racing in order to maintain and operate the casino. If the intent is to end greyhound racing in this state, provisions of the Horse and Dog Racing Act and the Lottery Act need to be amended and changed in tandem with what is provided for in this bill. Otherwise, the code will still require racing to be conducted in order to maintain casino licenses – with no funds, essentially, to conduct it.



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