FISCAL NOTE
Date Requested: January 30, 2024
Time Requested: 10:12 AM |
| Agency: |
Transportation, WV Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1250 |
Revised |
SB288 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
State Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
This bill would not create additional expense for the Division of Highways. It would increase revenue collections deposited into the State Road Fund.
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 |
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 |
92,300,000 |
92,300,000 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
The revenue numbers were provided to the Division of Highways by the Tax Department. The additional revenue could be utilized to purchase equipment, provide matching funds for the IIJA Program and potential for additional maintenance or projects to our highways and bridges.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
The Division of Highways must defer to the Tax Department as to how this program would be administered.
Person submitting Fiscal Note: Jonathan W Schaffer
Email Address: Jonathan.w.schaffer@wv.gov