FISCAL NOTE
Date Requested: February 09, 2017
Time Requested: 08:09 AM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1745 |
Introduced |
SB191 |
|
|---|
| CBD Subject: |
|
|---|
|
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 stated purpose of this bill is to remove the requirement that programs be jointly administered by labor and management trustees in order to qualify for tax credits for apprenticeship training in construction trades.
According to our interpretation, passage of this bill would modify the current West Virginia Apprenticeship Training Tax Credit by removing the requirement that qualifying apprenticeship training programs be jointly administered by labor and management trustees. As a result, more taxpayers might qualify for this credit. However, we do not possess sufficient information to be able to measure the potential fiscal impact of this change. Between 2012 and 2015, an average of roughly 90 taxpayers claimed total tax credits averaging $350,000 per year under this program.
Additional administrative costs to the State Tax Department would be $47,000 in FY2018 and $31,500 per fiscal year thereafter.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2017
Increase/Decrease
(use"-") |
2018
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
47,000 |
31,500 |
| Personal Services |
0 |
31,500 |
31,500 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
4,000 |
0 |
| Assets |
0 |
6,500 |
0 |
| Other |
0 |
5,000 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
According to our interpretation, passage of this bill would modify the current West Virginia Apprenticeship Training Tax Credit by removing the requirement that qualifying apprenticeship training programs be jointly administered by labor and management trustees. As a result, more taxpayers might qualify for this credit. However, we do not possess sufficient information to be able to measure the potential fiscal impact of this change. Between 2012 and 2015, an average of roughly 90 taxpayers claimed total tax credits averaging $350,000 per year under this program.
Additional administrative costs to the State Tax Department would be $47,000 in FY2018 and $31,500 per fiscal year thereafter.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov