FISCAL NOTE
Date Requested: January 16, 2019
Time Requested: 01:58 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2103 |
Introduced |
HB2457 |
|
|---|
| CBD Subject: |
Education (K12), Taxation |
|---|
|
FUND(S):
General Revenue Fund
Sources of Revenue:
General Fund
Legislation creates:
Decreases Existing Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to create the Educational Equality Act. The bill authorizes $500 tax credit per child for parents and legal guardians whose children attend a nonpublic school. The bill prohibits the creation of additional regulations over the education of a child whose parent or legal guardian receives the tax credit. The bill authorizes rulemaking.
The proposed Educational Equality Act would result in a loss to the General Revenue Fund of $5.2 million per year beginning in FY2021.
Additional administrative costs would be $51,000 in FY2021 and $40,000 per year in subsequent fiscal years.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2019
Increase/Decrease
(use"-") |
2020
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
40,000 |
| Personal Services |
0 |
0 |
40,000 |
| 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 |
-5,200,000 |
Explanation of above estimates (including long-range effect):
The proposed Educational Equality Act would result in a loss to the General Revenue Fund of $5.2 million per year beginning in FY2021. The bill would create a tax credit for any person who has a child that completes a school year at a nonpublic school.
Additional administrative costs would be $51,000 in FY2021 and $40,000 per year in subsequent fiscal years.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov