FISCAL NOTE

Date Requested: March 23, 2017
Time Requested: 09:26 AM
Agency: Lottery Commission, WV
CBD Number: Version: Bill Number: Resolution Number:
3328 Originating Bill HB3105
CBD Subject: Legal Gaming


FUND(S):

Lottery Fund

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


Eliminating funds to the Racetrack Modernization Fund would increase revenues to the Lottery Fund by $9 Million annually, but only if there is a surplus in the Lottery Administrative Funds (collected for administration of racetrack video lottery) of $9Million or more. Currently, Racetrack Modernization is only funded if the money is available, and it is a product of the Lottery's administrative dollars. If there is no surplus in the Lottery's administrative funds for racetrack video lottery then no dollars would be available for modernization.



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):


Eliminating funds to the Racetrack Modernization Fund would increase revenues to the Lottery Fund by $9 Million annually, but only if there is a surplus in the Lottery Administrative Funds (collected for administration of racetrack video lottery) of $9Million or more. Currently, Racetrack Modernization is only funded if the money is available, and it is a product of the Lottery's administrative dollars. If there is no surplus in the Lottery's administrative funds for racetrack video lottery then no dollars would be available for modernization. Because this money is a product of Lottery Administrative funds, specifically, surplus dollars available at the end of each fiscal year, it has been noted above that the bill will have no fiscal impact.



Memorandum


Because this money is a product of Lottery Administrative funds, specifically, surplus dollars available at the end of each fiscal year, it has been noted above that the bill will have no fiscal impact. This fiscal note mirrors the fiscal note filed by the Lottery for SB604.



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