FISCAL NOTE
Date Requested: January 14, 2023
Time Requested: 02:54 PM |
| Agency: |
Motor Vehicles, WV Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1948 |
Introduced |
HB2049 |
|
|---|
| CBD Subject: |
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FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to allow for trucks up to 10,000lbs to be registered as antique vehicles when no longer used for commercial purposes.
The bill further states “including vehicles up to and exceeding 10,000 lbs”.
The Division estimates that, based upon the percentage of class A vehicles which have an antique plate (1.59%), 532 additional vehicles will qualify for the antique plate. The average annual registration fee for the affected vehicles is $250.00 per year for a total reduction of revenue of $133,000 ($250.00 x 532).
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2023
Increase/Decrease
(use"-") |
2024
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 |
-133,000 |
-133,000 |
Explanation of above estimates (including long-range effect):
532 Vehicles affected
$250 Average Registration fee
$133,000 Total Revenue Reduction
532 Vehicles affected
$250 Average Registration fee
$133,000 Total Revenue Reduction
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: Raeann Kriner
Email Address: raeann.k.kriner@wv.gov