FISCAL NOTE
Date Requested: April 02, 2025
Time Requested: 10:44 AM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1974 |
Comm. Sub. Eng. |
HB2399 |
|
|---|
| CBD Subject: |
Natural Resources; Taxation |
|---|
|
FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund local property tax revenue
Legislation creates:
Decreases Existing Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to change the managed timberland certification requirements to every five years for tax assessment purposes and granting rulemaking authority to the Division of Forestry.
Under the provisions of this bill, managed timberland owners must certify every five years to the Division of Forestry that all requirements have been or will be met instead of annually. There would be no impact on Property Tax revenue to the State or local or governments from the provisions of this bill.
There could be a decrease in administrative costs due to the filings only needing to be done every five years.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
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):
Under the provisions of this bill, managed timberland owners must certify every five years to the Division of Forestry that all requirements have been or will be met instead of annually. There would be no impact on Property Tax revenue to the State or local or governments from the provisions of this bill.
There could be a decrease in administrative costs due to the filings only needing to be done every five years.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: RADfiscal@wv.gov