Date Requested: February 24, 2015
Time Requested: 02:17 PM
Agency: Lottery Commission
CBD Number: Version: Bill Number: Resolution Number:
3243 Introduced HB2954
CBD Subject: Education (Higher)


FUND(S):

Promise Scholarship Fund

Sources of Revenue:

Special Fund,Other Fund Lottery Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    This bill will direct approximately $2,927,463 to the Promise Scholarship Fund in FY16. There will no impact on lottery revenues or expenses.



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 2,927,463 2,927,463


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


    The abovementioned revenues to the Promise Scholarship Fund are based on racetrack video lottery projected revenues, and thus future years will vary as the total revenues will reflect a percentage of actual revenue collected.



Memorandum


    



    Person submitting Fiscal Note: Danielle Boyd
    Email Address: dboyd@wvlottery.com