Supplement: WV HB3031 | 2023 | Regular Session | Racing Commission, WV
For additional supplements on West Virginia HB3031 please see the Bill Drafting List
Bill Title: Eliminating West Virginia Greyhound Breeding Development Fund
Status: 2023-01-25 - To House Judiciary [HB3031 Detail]
Download: West_Virginia-2023-HB3031-Racing_Commission_WV.html
HB3031 defunds and decouples Greyhound Racing resulting in an increase of revenues to the State by redirecting funds previously directed to Greyhound Racing to the State Excess Lottery Fund for appropriation by the State Legislature.
The above estimated total revenues were compiled as follows: $9,200,000 in new money to State Excess Lottery Fund $8,000,000 freed up in appropriated money. $9,200,000= $7.5M [Greyhound Purses] +$1.7M [Development Fund] $8,000,000= 7.5M [Greyhound Purses] + 400,000 [RVL Pass-through] + $100,000 [Supplemental money] Estimated Total Revenues: $17,200,000
House Bill 3031 essentially defunds greyhound racing in the state of West Virginia without officially ending the activity. Should greyhound racing be discontinued, an additional $350,000 would also be available by discontinuing capital improvements reimbursement available to the greyhound tracks as this would no longer be necessary (§19-23-13c(b)(3)(A).
Person submitting Fiscal Note: Joe Moore
Email Address: joe.k.moore@wv.gov
Bill Title: Eliminating West Virginia Greyhound Breeding Development Fund
Status: 2023-01-25 - To House Judiciary [HB3031 Detail]
Download: West_Virginia-2023-HB3031-Racing_Commission_WV.html
FISCAL NOTE
| Date Requested: January 25, 2023 Time Requested: 03:50 PM |
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FUND(S):
West Virginia Greyhound Breeding Development FundSources of Revenue:
Special FundLegislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
HB3031 defunds and decouples Greyhound Racing resulting in an increase of revenues to the State by redirecting funds previously directed to Greyhound Racing to the State Excess Lottery Fund for appropriation by the State Legislature.
Fiscal Note Detail
| Effect of Proposal | Fiscal Year | ||
|---|---|---|---|
| 2023 Increase/Decrease (use"-") |
2024 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 | 17,200,000 | 17,200,000 |
Explanation of above estimates (including long-range effect):
The above estimated total revenues were compiled as follows: $9,200,000 in new money to State Excess Lottery Fund $8,000,000 freed up in appropriated money. $9,200,000= $7.5M [Greyhound Purses] +$1.7M [Development Fund] $8,000,000= 7.5M [Greyhound Purses] + 400,000 [RVL Pass-through] + $100,000 [Supplemental money] Estimated Total Revenues: $17,200,000
Memorandum
House Bill 3031 essentially defunds greyhound racing in the state of West Virginia without officially ending the activity. Should greyhound racing be discontinued, an additional $350,000 would also be available by discontinuing capital improvements reimbursement available to the greyhound tracks as this would no longer be necessary (§19-23-13c(b)(3)(A).
Person submitting Fiscal Note: Joe Moore
Email Address: joe.k.moore@wv.gov
