FISCAL NOTE
Date Requested: January 16, 2024
Time Requested: 04:26 PM |
| Agency: |
Municipal League, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2579 |
Introduced |
HB4812 |
|
|---|
| CBD Subject: |
|
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FUND(S):
Municipal Funds
Sources of Revenue:
Other Fund
Legislation creates:
Increases Revenue From Existing Sources
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to limit the amount of fees that third party vendors or contractors may collect when collecting municipal business and occupation taxes on behalf of a municipality to 20% of the amount collected. Although a specific dollar estimate of potential revenue increase cannot be determined, this bill will result in increased municipal revenue from an existing source for any municipality that is being charged fees in excess of 20% for collection services.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
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):
Memorandum
Person submitting Fiscal Note: Susan Economou
Email Address: seconomou@wvml.org