FISCAL NOTE
Date Requested: February 26, 2021
Time Requested: 12:45 PM |
| Agency: |
Auditor, State of WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2295 |
Introduced |
HB2777 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
Local Funds
Sources of Revenue:
Other Fund Local Government - Municipal Amusement Tax
Legislation creates:
Decreases Existing Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of proposed House Bill 2777 is to repeal the municipal amusement tax.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2021
Increase/Decrease
(use"-") |
2022
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):
We do not have records available to us which would allow us to reasonably estimate what the precise financial impacts would be on municipal budgets of the various municipals within West Virginia as a result of the elimination of the municipal amusement tax. However, we do believe the passage and implementation of the Bill would result in a reduction of available revenues to fund municipal budgets.
Memorandum
We have no additional comments regarding the proposed legislation.
Person submitting Fiscal Note: Michael E. Sizemore, CPA
Email Address: Mike.Sizemore@wvsao.gov