FISCAL NOTE

Date Requested: January 14, 2020
Time Requested: 11:42 AM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
2066 Introduced HB4190
CBD Subject: Taxation


FUND(S):

7152

Sources of Revenue:

Special Fund

Legislation creates:





Fiscal Note Summary


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


House Bill 4190 will have no fiscal impact on the Offices of the Insurance Commissioner.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2020
Increase/Decrease
(use"-")
2021
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):


Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.



Memorandum


House Bill 4190, if enacted, would amend ยง11-22-1 of the Code of West Virginia, 1931, as amended, relating to definitions in excise tax on privilege of transferring real property. HB 4190 will have no impact on the Offices of the Insurance Commissioner (OIC) as the OIC does not regulate transfers of real property. HB 4190 does not relate to insurance. It appears that the State Tax Department should be contacted with regard to potential fiscal impact, as the Tax Commissioner is referenced in the bill.



    Person submitting Fiscal Note: Melinda Kiss
    Email Address: Melinda.A.Kiss@wv.gov