FISCAL NOTE
FUND(S):
Road Fund, Insurance Fees
Sources of Revenue:
Special 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 authorize the issuance of a special military plate for retired military personnel. The plate will designate the holder as a retired military person and will denote the branch of service.
The palte is to be provided at no cost to the applicant. The Division interprets the phrase "free of charge" to include registration fees.
The West Virginia Office of Veterans Affairs and the Division of Motor Vehicles have no idea how many retired military veterans live in West Virginia. In prior years the estimated number was 8,700 veterans would qualify for this plate. Since this plate is a free plate the Division estimates that the number of veterans applying for the plate would be high. The Division purchases registration plates from Prison Industries and has been paying an average of $8.30 per military theme type plates. The Division's cost to issue a special registration plate is $5.00 per plate. The estimated cost to issue 8,700 plates is $115,710.
The estimated loss in revenue to the road fund in registration and litter fees is $256,650 and the loss to the insurance special revenue account is $4,350.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2003
Increase/Decrease
(use"-") |
2004
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
115,710 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
43,500 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
72,210 |
0 |
| 2. Estimated Total Revenues |
0 |
-261,000 |
-261,000 |
Explanation of above estimates (including long-range effect):
Estimated Cost
Estimated Plate Sales 8,700
Cost of Military Plates $8.30
Administrative Fee $5.00
Total Cost to Issue Plate $115,710
Estimated Revenue Loss
Number of Plates 8,700
Registration Fee $28.50
Litter Fee $1.00
Insurance Fee $.50
Total Reduction in Revenue Road Fund $256,650
Total Reduction in Revenue to Insurance $4,350
Memorandum
Person submitting Fiscal Note: Richard Johnston
Email Address: rjohnston@dot.state.wv.us