FISCAL NOTE
Date Requested: January 20, 2022
Time Requested: 02:35 PM |
| Agency: |
Motor Vehicles, WV Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1211 |
Introduced |
SB455 |
|
|---|
| CBD Subject: |
Motor Vehicles |
|---|
|
FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Increases Revenue From Existing Sources, Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to increase motor vehicle registration fees by $5 for a 12-month registration and by $10 for a 24- month registration and to repeal the article requiring inspection of vehicles.
The Division estimates it will cost $3,220 (28 hrs. X $115/hr.) for programming the cash register, and $3,600 (40 hrs. X $90/hr.) for mainframe programming. For a total current expense of $6,820 ($3,220,+,$3,600).
The bill raises the registration fee by $5 for a 12-month registration and by $10 for a 24-month registration. The Division estimates the bill will increase revenue on class A registrations by $6,426,340 (1,285,268 registrations X $5), on class G registrations by $233,615 (46,723 registrations X $5), and class SPV registrations by $17,140 (3,428 registrations x $5). For a total annual increase in revenue of $6,677,095 ($6,426,340 + $233,615 + $17,140).
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2022
Increase/Decrease
(use"-") |
2023
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
6,820 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
6,820 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
6,677,095 |
6,677,095 |
Explanation of above estimates (including long-range effect):
$6,820 Programming
$6,820 Total Current Expense
$6,426,340 Class A
$233,615 Class G
$17,140 Class SPV
$6,677,095 Revenue Increase
$6,426,340 Class A
$233,615 Class G
$17,140 Class SPV
$6,677,095 Revenue Increase
Memorandum
Person submitting Fiscal Note: Raeann Kriner
Email Address: raeann.k.kriner@wv.gov