FISCAL NOTE

Date Requested: February 16, 2017
Time Requested: 01:35 PM
Agency: Motor Vehicles, WV Division of
CBD Number: Version: Bill Number: Resolution Number:
1286 Introduced HB2514
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 create a special motor vehicle collector license plate; to define collector motor vehicle and motor vehicle collector; to allow the holder of a motor vehicle collector license plate to transfer a special plate temporarily among collector motor vehicles owned by the collector; and to establish requirements and fees for a motor vehicle collector license plate application. The closest plate classification to this legislation is the antique plate class which has 17,733 active registrations. As an estimate approximately 15% of current individuals with antique plates would purchase a collector’s plate and of those it is estimated that 10% would purchase a second plate. There were 17,733 active antique registrations for the last fiscal year. Since this legislation allows for indiscriminant use of a classic care plate on several owned and qualifying vehicles fiscal impact is difficult to approximate relating to owners of more than one antique vehicle. With the current information total revenues would be $167,580 with related costs at $34,527. Revenue losses due to lost antique registration would be $87,780 giving a net revenue in the first year $79,800. Renewal revenue in subsequent years would be $167,580.



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 34,527 34,527 0
Personal Services 14,630 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 19,897 0 0
2. Estimated Total Revenues 167,580 79,800 167,580


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


Current Antique Plate Registrations 17,733 Total Current Registrations. 15% Estimated Interest 2,660 Total New Collector Plates 2,660 Total New Collector Plates 10% Estimated Interest in 2nd Plate 266 Total 2 Plate Registrations Costs $ 6.80 Cost to Produce Plate 2,926 Total Plates $ 19,897 Total Plate Cost $ 5.00 Administration Cost 2,926 Total Plates $ 14,630 Total Administration Cost $ 19,897 Total Plate Cost $ 14,630 Total Administration Cost $ 34,527 Total Cost Revenue Loss 2,926 Total Plates $ 30 per Plate $ 87,780 Total Revenue Loss Revenues 2,660 Total New Collector Plates $ 60 Registration Fee $ 159,600 New Plates 266 Total 2 Plate Registrations $ 30 Registration Fee for 2nd Plate $ 7,980 2nd Plates Total Revenue $ 159,600 New Plates $ 7,980 2nd Plates $ 167,580 Total Revenue Net Revenue $ 167,580 Total Revenue $ 87,780 Total Revenue Loss $ 79,800 Net Revenue



Memorandum






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