Date Requested:March 23, 2005
Time Requested:03:16 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R1589 Intro SB646
CBD Subject: Exclude Items from Business & Occupation
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 exclude from the business and occupation tax, the proceeds of assessments made pursuant to the declarations or covenants of nonprofit homeowners associations, organized under the laws of this state, which are received from homeowner association members for the purpose of providing community services such as road maintenance, water and sewerage service, security and the like.
    
    According to our interpretation, and based upon available data, passage of this bill would result in a minimal reduction in the General Revenue Fund.
    
    Additional administrative costs to the Tax Department associated with passage of this bill 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 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 exclude from the business and occupation tax, the proceeds of assessments made pursuant to the declarations or covenants of nonprofit homeowners associations, organized under the laws of this state, which are received from homeowner association members for the purpose of providing community services such as road maintenance, water and sewerage service, security and the like.
    
    According to our interpretation, and based upon available data, passage of this bill would result in a minimal reduction in the General Revenue Fund.
    
    Additional administrative costs to the Tax Department associated with passage of this bill would be minimal.


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