FISCAL NOTE

Date Requested: March 02, 2017
Time Requested: 01:03 PM
Agency: Tax & Revenue Department, WV State
CBD Number: Version: Bill Number: Resolution Number:
2777 Introduced HB2774
CBD Subject: Taxation


FUND(S):

General Revenue Fund, local governments

Sources of Revenue:

General Fund,Other Fund local property tax

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    The stated purpose of this bill is to allow aircraft and aircraft parts to be taxed at the same rate as aircraft property.
    
    There would be an decrease of roughly $500,000 in revenue beginning in FY2019.
    
    Additional administrative costs would be minimal.
    



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 0 0 -500,000


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


    There would be an decrease of roughly $500,000 in revenue beginning in FY2019.
    
    Additional administrative costs would be minimal.
    



Memorandum


    



    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov