Supplement: WV HB4723 | 2024 | Regular Session | Tax & Revenue Department, WV State

For additional supplements on West Virginia HB4723 please see the Bill Drafting List
Bill Title: To reduce the business license fee for WV Volunteer Fire Departments to $250

Status: 2024-01-26 - To House Finance [HB4723 Detail]

Download: West_Virginia-2024-HB4723-Tax_Revenue_Department_WV_State.html

FISCAL NOTE

Date Requested: January 15, 2024
Time Requested: 04:49 PM
Agency: Tax & Revenue Department, WV State
CBD Number: Version: Bill Number: Resolution Number:
1034 Introduced HB4723
CBD Subject: Public Safety


FUND(S):

Special Account

Sources of Revenue:

Special Fund

Legislation creates:

Decreases Existing Revenue, Increases Existing Expenses



Fiscal Note Summary


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


The stated purpose of this bill is to reduce the amount paid to the Tax Commissioner for the annual licensure fees to volunteer fire departments for charitable raffles. According to our interpretation, this bill would reduce the licensure fee paid by volunteer fire departments for charitable raffles from $500 to $250. Passage of this bill would result in a reduction of $10,000 per year to the special revenue account funding the investigatory activities of the Criminal Investigation Division and the Special Audits Division of the Tax Department paid by volunteer fire departments. Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2024.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2024
Increase/Decrease
(use"-")
2025
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 15,000 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 15,000 0 0
2. Estimated Total Revenues 0 -10,000 -10,000


Explanation of above estimates (including long-range effect):


According to our interpretation, this bill would reduce the licensure fee paid by volunteer fire departments for charitable raffles from $500 to $250. Passage of this bill would result in a reduction of $10,000 per year to the special revenue account funding the investigatory activities of the Criminal Investigation Division and the Special Audits Division of the Tax Department paid by volunteer fire departments. Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2024.



Memorandum






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