FISCAL NOTE

Date Requested: February 22, 2016
Time Requested: 03:45 PM
Agency: Environmental Protection, Department of
CBD Number: Version: Bill Number: Resolution Number:
2781 Amendment SB654
CBD Subject: Taxation


FUND(S):

n/a

Sources of Revenue:

Other Fund n/a

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


THIS PROPOSED LEGISLATION SEEKS TO DECREASE THE COAL SEVERANCE TAX IMPOSED IN WV STATE CODE CHAPTER 11 FROM FIVE PERCENT PER TON TO TWO PERCENT PER TON. THIS WILL BE EFFECTIVE JULY 1, 2016.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
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):


THE PROPOSED LEGISLATION WILL NOT HAVE A FINANCIAL IMPACT TO THE WEST VIRGINIA DEPARTMENT OF ENVIRONMENTAL PROTECTION. THE TAXES RELATED TO COAL MINING THAT IMPACT WV DEP ARE FOUND IN CHAPTER 22 OF WV STATE CODE.



Memorandum


THIS PROPOSED LEGISLATION WOULD HAVE THE IMPACT OF REDUCING THE AMOUNT OF SEVERANCE TAX COLLECTED BY THE STATE BY THREE PERCENT. WHILE THIS WILL NOT FINANCIALLY IMPACT WV DEP, IT MAY AFFECT OTHER AGENCIES. WE WOULD SUGGEST THAT THE WV STATE TAX DEPARTMENT ALSO COMPLETE A FISCAL NOTE ON THIS BILL.



    Person submitting Fiscal Note: JEAN SHEPPARD
    Email Address: JEAN.J.SHEPPARD@WV.GOV