FISCAL NOTE

Date Requested: February 16, 2016
Time Requested: 04:29 PM
Agency: Environmental Protection, Department of
CBD Number: Version: Bill Number: Resolution Number:
2699 Introduced HB4550
CBD Subject: Real and Personal Property


FUND(S):

3322

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.


    THE PROPOSED LEGISLATION SHOULD INCREASE REVENUES IN THE OIL AND GAS RECLAMATION FUND. DUE TO A LACK OF SPECIFICS IN THE LEGISLATION, IT CANNOT BE DETERMINED WHAT TYPE OF COSTS MAY BE INCURRED TO ACCOUNT FOR THE MONEY AND TO TRANSFER IT TO THE OIL AND GAS RECLAMATION ACCOUNT AND WHAT STATE AGENCY WOULD INCUR THESE COSTS.



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 0 0


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


    THERE IS NOT ENOUGH INFORMATION TO CALCULATE AN ESTIMATE OF THE REVENUE THAT WOULD BE RECEIVED OR AN ESTIMATE OF ANY COSTS THAT MAY BE INCURRED TO ACCOUNT FOR THE TRANSFER OF THESE FUNDS TO THE OIL AND GAS RECLAMATION FUND. IT IS ALSO UNCLEAR HOW THESE FUNDS WOULD BE IDENTIFIED AND THE ANTICIPATED SOURCE OF THE MONEY. DEP WAS UNABLE TO LOCATE ANYONE THAT COULD GIVE US AN IDEA OF THE AMOUNT OF FUNDS WE WOULD BE TALKING ABOUT OR WHO MAINTAINS THESE FUNDS CURRENTLY.



Memorandum


    THIS PROPOSED LEGISLATION DOES NOT EXPLAIN WHAT AGENCY CURRENTLY HOLDS THESE FUNDS, HOW THEY ARE IDENTIFIED AS OIL AND GAS RELATED, WHAT AGENCY WOULD BE RESPONSIBLE FOR MAINTAINING THEM FOR THE FIVE YEARS THEY ARE UNCLAIMED, WHO WOULD DISBURSE THEM IF SOMEONE DID CLAIM THEM WITHIN THE FIVE YEAR PERIOD, AND WHAT AGENCY WOULD TRANSFER THE MONEY TO THE OIL AND GAS RECLAMATION FUND IF THEY REMAINED UNCLAIMED.
    
    THIS LEGISLATION SHOULD INCREASE MONEY IN THE OIL AND GAS RECLAMATION FUND BUT IT MAY ALSO INCREASE COSTS TO DEP, DEPENDING ON WHAT AGENCY IS RESPONSIBLE FOR ACCOUNTING FOR, HOLDING, AND DISBURSING THE FUNDS.



    Person submitting Fiscal Note: JEAN SHEPPARD
    Email Address: JEAN.J.SHEPPARD@WV.GOV