Date Requested:March 11, 2005
Time Requested:12:52 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R1538 Intro SB504
CBD Subject: High -Tech Research Zones, Parks & Tech
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 make technical changes concerning High-Tech research zones, parks and technology centers and tax incentives relating thereto.
    
    According to our interpretation, and as stated in the purpose of the bill, this bill proposes corrections for the existing High-Tech research zones, parks and technology center tax incentive program. Thus, there will be little, if any, impact on State Revenue associated with passage of this bill.
    
    Additional administrative costs to the State Tax Department associated with this bill will 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 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 will result in technical corrections in the existing High-Tech research zones, parks and technology center tax incentive program.
    
    There will be little, if any, impact on State Revenue associated with passage of this bill.
    
    Additional administrative costs to the State Tax Department associated with this bill will be minimal.


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