FISCAL NOTE
Date Requested: February 21, 2018
Time Requested: 02:30 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1049 |
Comm. Sub. |
SB148 |
|
|---|
| CBD Subject: |
Real and Personal Property |
|---|
|
FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund local governments
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to permit surface owners to purchase the mineral interests that lay below the property when the mineral interest becomes subject to a tax lien. The bill permits mineral owners to purchase the surface interest that lies above the mineral interest when the surface tract become subject to establishing procedures. The bill requires notice.
There would be no additional costs to the State Tax Department, but this proposal would result in additional costs for the State Auditor’s Office and sheriff’s offices.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
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):
There would be no additional costs to the State Tax Department, but this proposal would result in additional costs for the State Auditor’s Office and sheriff’s offices.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov