Date Requested:March 03, 2005
Time Requested:10:00 AM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R1279 Intro HB2827
CBD Subject: Joint TIF Approval
FUND(S)
None
Sources of Revenue
Other 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 provide for the approval of the county commission of Class I and Class II Municipal development or redevelopment tax financing districts.
    
    According to our interpretation, passage of this bill would have no impact on State or local revenues. Under current law, county commissions are required to obtain the formal consent of a municipality if any portion of a proposed county development district is within the municipality. This bill makes the consent requirement reciprocal. That is, the governing body of a Class I and Class II municipality creating a development or redevelopment tax financing district must obtain the formal approval of the county commission of the county in which the major portion of the municipality is located.
    
    There would be no additional administrative costs to the Tax Department associated with this bill. Certain County Commissions may experience a slight increase in administrative costs upon passage of this bill.

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 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 0 0
3. Explanation of above estimates (including long-range effect):
    Passage of this bill would provide for the approval of the county commission of Class I and Class II Municipal development or redevelopment tax financing districts.
    
    According to our interpretation, passage of this bill would have no impact on State or local revenues. Under current law, county commissions are required to obtain the formal consent of a municipality if any portion of a proposed county development district is within the municipality. This bill makes the consent requirement reciprocal. That is, the governing body of a Class I and Class II municipality creating a development or redevelopment tax financing district must obtain the formal approval of the county commission of the county in which the major portion of the municipality is located.
    
    There would be no additional administrative costs to the Tax Department associated with this bill. Certain County Commissions may experience a slight increase in administrative costs upon passage of this bill.


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kpetry@tax.state.wv.us
    The stated purpose of this bill is to provide for the approval of the county commission of Class I and Class II Municipal development or redevelopment tax financing districts.
    
    As written, the bill does not specify what form the approval by the county commission is to take.