FISCAL NOTE

Date Requested: February 10, 2017
Time Requested: 01:19 PM
Agency: Motor Vehicles, WV Division of
CBD Number: Version: Bill Number: Resolution Number:
1475 Introduced HB2328
CBD Subject: Motor Vehicles


FUND(S):

Road Fund

Sources of Revenue:

Special Fund

Legislation creates:

A New Program



Fiscal Note Summary


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


The purpose of this bill is to exempt certain vehicles used in farming (Class X vehicles) from the tax imposed upon the privilege of effecting the certification of title of a motor vehicle. There were 3078 Class X vehicles registered at the end of the 2016 Fiscal Year. In the 2016 Fiscal Year 608 vehicles were added with taxes collected ranging from $545 to $2921. As an estimate the revenue loss in 2016 would have been between $331,360 and $1,775,958.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2017
Increase/Decrease
(use"-")
2018
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 331,360 -331,360 -331,360


Explanation of above estimates (including long-range effect):


608 Class X Vehicles Registered in 2016 $ 545 Least tax paid on Class X in 2016 $ 331,360 Total



Memorandum






    Person submitting Fiscal Note: Raeann Kriner
    Email Address: raeann.k.kriner@wv.gov