Date Requested:February 16, 2005
Time Requested:01:18 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R426 Intro HB2355
CBD Subject: Amusement Rides
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 create sales and use tax exemptions for purchases of design and engineering services and materials and equipment directly used in construction of new or replacement amusement rides or for lease of amusement rides to qualified operators in long established West Virginia amusement parks having historical character.
    
    We do not have access to the data necessary to calculate the reduction to the General Revenue Fund attributable to this bill. However, purchases of this kind are infrequent so the revenue impact would be minimal.
    
    Additional administrative costs to the Tax Department would be minimal.
    

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 4,000 0 0
Personal Services 0 0 0
Current Expenses 4,000 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0
3. Explanation of above estimates (including long-range effect):
    We do not have access to the data necessary to calculate the reduction to the General Revenue Fund attributable to this bill. However, purchases of this kind are infrequent so the revenue impact would be minimal.
    
    Additional administrative costs would be $4,000 during the current fiscal year due to notifying taxpayers of the changes. There would be no additional administrative costs thereafter.


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kpetry@tax.state.wv.us