FISCAL NOTE
Date Requested: January 23, 2015
Time Requested: 10:36 AM |
| Agency: |
Motor Vehicles, Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1984 |
Introduced |
HB2196 |
|
|---|
| CBD Subject: |
Motor Vehicles |
|---|
|
FUND(S):
Road Fund
Sources of Revenue:
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to authorize a special Hatfield and McCoy registration plate. This bill establishes a one-time fee of $10 to cover the cost of issuance of the plate and an additional fee of $15 for each plate annually.
The Division has been paying $8.50 for special plates, plus $5 for administration costs. The total cost to issue this special plate is $13.50 per plate.
Net revenue generated from this plate will be $11.50 per plate in the first year, which includes the $10 one-time fee and the $15 annual fee. Each year thereinafter there will be the $15 annual fee.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2015
Increase/Decrease
(use"-") |
2016
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
14 |
14 |
14 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
5 |
5 |
5 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
9 |
9 |
9 |
| 2. Estimated Total Revenues |
12 |
12 |
12 |
Explanation of above estimates (including long-range effect):
Cost to issue each plate $ 8.50
Administrative Cost $ 5.00
Total Cost per Plate $13.50
Revenue
First Year Revenue $25.00
Second Year Revenue $15.00
Memorandum
Person submitting Fiscal Note: Jerry Conrad
Email Address: jerry.l.conrad@wv.gov