FISCAL NOTE
Date Requested: February 11, 2020 Time Requested: 12:41 PM |
Agency: |
Transportation, WV Department of |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2955 |
Introduced |
HB4947 |
|
CBD Subject: |
Taxation |
---|
|
FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Decreases Existing Revenue, Creates New Expense
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to repeal the law relating to additional registration fees for alternative fuel vehicles.
The Division estimates it will cost $6,900 (60 hrs. x $115/hr.) for programming the cash register, and $13,500 (150 hrs. x $90/hr.) for mainframe programming. Total Current expense of $20,400 ($6,900 + $13,500).
The Division further estimates a reduction of revenue of $1,086,000 (10,860 vehicles x $100) for vehicles operating on a combination of electricity and petrochemical fuels, $62,800 (314 vehicles X $200) for hydrogen/natural gas vehicles, and $17,600 (88 vehicles x $200) for vehicles operating on electricity only. Total reduction of revenue of $1,166,400 ($1,086,000 + $62,800 + $17,600).
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 |
20,400 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
20,400 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
-1,166,400 |
0 |
Explanation of above estimates (including long-range effect):
$ 6,900 Cash Register Programming
$ 13,500 Mainframe programming
$ 20,400 Total Current Expense
$ (1,086,000) Combination electric/petrochemical
$ (62,800) hydrogen/natural gas
$ (17,600) electric only
$ (1,166,400) Total Reduction of Revenue
Memorandum
Person submitting Fiscal Note: Lorrie Hodges
Email Address: lorrie.a.hodges@wv.gov