FISCAL NOTE

Date Requested: February 23, 2016
Time Requested: 02:44 PM
Agency: Lottery Commission
CBD Number: Version: Bill Number: Resolution Number:
2754 Introduced HB4702
CBD Subject: Legal Gaming


FUND(S):

State Excess Lottery Revenue Fund, Seniors Home and Community Based Service Fund

Sources of Revenue:

Special Fund,Other 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 create an additional $24.6 Million in deposits to the State Excess Lottery Revenue Fund, but will reduce deposits to the Seniors Home and Community Based Service Fund by $10 Million.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
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 14,600,000 14,600,000


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


This bill creates an additional $24.6 Million to SELRF deposits, but reduces deposits to the Seniors Home and Community based service fund by $10M. Therefore, the net impact is $14.6 Million to the state.



Memorandum


This fiscal note reflects the fiscal impact of Lottery related components of this bill. Total fiscal impact cannot be evaluated without input from ABCA, WV State Tax Department, and Racing Commission.



    Person submitting Fiscal Note: Danielle E. Boyd, Managing General Counsel
    Email Address: dboyd@wvlottery.com