FISCAL NOTE

Date Requested: March 09, 2017
Time Requested: 01:40 PM
Agency: Higher Education Policy Commission
CBD Number: Version: Bill Number: Resolution Number:
2865 Introduced HB2887
CBD Subject: Real and Personal Property


FUND(S):

0589

Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


House bill 2887, if enacted would authorize boards of governors of institutions of higher education to develop retirement and incentive packages. If the legislation would be enacted, no costs would be attributable to, or required to be paid by, an institution to the applicable retirement system of the state resulting from the voluntary separation of an employee who is sixty-five years of age or older and vested and eligible to retire under a retirement system of the state at the time the employee voluntarily separates from the institution pursuant to a plan authorized under the related section. The savings realized from the enactment of this bill would depend upon the provisions of each retirement incentive package. No additional costs are anticipated from the enactment of this legislation.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2017
Increase/Decrease
(use"-")
2018
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 0 0


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






Memorandum






    Person submitting Fiscal Note: Ed Magee
    Email Address: edward.magee@wvhepc.edu