FISCAL NOTE

Date Requested: February 03, 2022
Time Requested: 02:21 PM
Agency: Tax & Revenue Department, WV State
CBD Number: Version: Bill Number: Resolution Number:
2181 Comm. Sub. SB476
CBD Subject: Taxation


FUND(S):

General Revenue Fund

Sources of Revenue:

General Fund

Legislation creates:





Fiscal Note Summary


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


The stated purpose of this bill is to correct cross references that exempt thin seam coal from the minimum severance tax. According to our interpretation, this committee substitute replaces references to “thin seam coal” with references to coal “mined by underground methods from seams with an average thickness of 45 inches or less.” This bill corrects W.Va. Code cross references related to the minimum Severance Tax exemption on thin seam coal by deleting any reference to subsection (f) in W.Va. Code §11-12B-3. Since this is a technical correction bill related to existing statute, passage of this bill would have no revenue impact on the General Revenue Fund in FY2023 and thereafter. There are no additional administrative costs incurred by the State Tax Department.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2022
Increase/Decrease
(use"-")
2023
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):


According to our interpretation, this committee substitute replaces references to “thin seam coal” with references to coal “mined by underground methods from seams with an average thickness of 45 inches or less.” This bill corrects W.Va. Code cross references related to the minimum Severance Tax exemption on thin seam coal by deleting any reference to subsection (f) in W.Va. Code §11-12B-3. Since this is a technical correction bill related to existing statute, passage of this bill would have no revenue impact on the General Revenue Fund in FY2023 and thereafter. There are no additional administrative costs incurred by the State Tax Department.



Memorandum






    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov