FISCAL NOTE
Date Requested: January 14, 2016
Time Requested: 04:30 PM |
| Agency: |
Tax Department, State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1728 |
Introduced |
SB247 |
|
|---|
| CBD Subject: |
Tax |
|---|
|
FUND(S):
General Revenue Fund
Sources of Revenue:
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to include on the state personal income tax return a checkoff option to donate some or all of any tax refund to the Cedar Lakes Foundation Checkoff Program for the operation of the Cedar Lakes Foundation.
According to our interpretation, passage of this bill would result in the creation of a voluntary check-off line on Personal Income Tax returns for taxpayers who wish to contribute to the “Cedar Lakes Foundation Checkoff Program.” The new check-off may result in the voluntary contribution of a modest sum of funds to provide a source of revenue for the operation of the Cedar Lake Foundation. Passage of this bill would have no effect on General Revenue Fund collections.
Additional administrative costs to the State Tax Department would be $8,990.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2016
Increase/Decrease
(use"-") |
2017
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
8,990 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
8,990 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Passage of this bill would result in the creation of a voluntary check-off line on Personal Income Tax returns for taxpayers who wish to contribute to the “Cedar Lakes Foundation Checkoff Program.” The new check-off may result in the voluntary contribution of a modest sum of funds to provide a source of revenue for the operation of the Cedar Lake Foundation. Passage of this bill would have no effect on General Revenue Fund collections.
Additional administrative costs to the State Tax Department would include a change to Personal Income Tax form, document, and testing. This cost would be $8,990 in FY 2017.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov