FISCAL NOTE
Date Requested: February 05, 2026
Time Requested: 04:43 PM |
| Agency: |
Commerce, WV Dept of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3540 |
Introduced |
SB761 |
|
|---|
| CBD Subject: |
Agriculture; Economic Development; Taxation |
|---|
|
FUND(S):
General Revenue - Personal Services
Sources of Revenue:
General Fund
Legislation creates:
Creates New Expense, Creates New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
The Division of Economic Development serves as the primary regulatory and oversight body for the new tax credit program. The Division is required to promulgate rules to implement the article, specifically establishing the documentation and verification standards necessary to claim the credit. It must collect and review quarterly self-reports from manufacturers, which include scale tickets, tonnage summaries, and other related documentation. To ensure compliance, the Division has the authority to conduct random audits of participating manufacturers. In cases of intentional violation or fraud, the Division is empowered to assess civil penalties, suspend a facility's eligibility for future credits, or permanently bar a manufacturer from the program.
This reporting and oversight will likely require the use of a single employee, costing $90,000 (including salary and benefits).
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
90,000 |
90,000 |
| 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.
Approximation based on a $65,000 salary, plus benefits.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
The direct fiscal impact calculated above only accounts for the allocation of an employee for the review, audit, and maintenance of the program. There are additional tax implications that should be discussed by the Tax Department.
Person submitting Fiscal Note: Garner Marks
Email Address: garner.marks@wv.gov