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