FISCAL NOTE
Date Requested: January 14, 2023 Time Requested: 04:08 PM |
Agency: |
Motor Vehicles, WV Division of |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1237 |
Introduced |
HB2305 |
|
CBD Subject: |
|
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|
FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to exempt foreign market vehicles manufactured 25 or more years ago from certain title requirements and allow registration upon application and payment of an additional $25 fee.
The agency estimates not more than 100 vehicles will be affected by this bill annually. The Division will realize revenue of $2,500 per year ($25 X 100).
The Division will incur costs to program the cash register system to accept the fee of approximately $2,990 (26 hrs. @$115/hr.)
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 |
2,990 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
2,990 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
2,500 |
2,500 |
Explanation of above estimates (including long-range effect):
$2,990 Cash Register Programming
100 Projected Number of Qualifying Vehicles
$25 Per Transaction Fee
$2,500 Total Revenue Generated
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