FISCAL NOTE
Date Requested: March 03, 2017 Time Requested: 11:46 AM |
Agency: |
Tax & Revenue Department, WV State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2938 |
Introduced |
SB504 |
|
CBD Subject: |
Taxation |
---|
|
FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund,Other Fund local property tax
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to allow aircraft and aircraft parts to be taxed at the same rate as aircraft property.
There would be an decrease of roughly $500,000 in revenue beginning in FY2019.
Additional administrative costs would be minimal.
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 |
-500,000 |
Explanation of above estimates (including long-range effect):
There would be an decrease of roughly $500,000 in revenue beginning in FY2019.
Additional administrative costs would be minimal.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov