Date Requested:March 23, 2005
Time Requested:03:20 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R1959 Intro SB665
CBD Subject: Special Reclamation Tax
FUND(S)
Special Reclamation Fund
Sources of Revenue
Other Fund Special Reclamation 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 extend the temporary special reclamation tax for an additional twenty-four months.
    
    According to our interpretation and based upon available data, passage of this bill would result in approximately $10,000,000 of revenue for the Special Reclamation Fund on an annualized basis for the additional twenty-four months.
    
    Additional administrative costs to the State Tax Department associated with 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 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 1,700,000 10,000,000 0
3. Explanation of above estimates (including long-range effect):
    According to our interpretation and based upon available data, passage of this bill would result in additional Special Reclamation Fund revenue of approximately $1,700,000 in 2005, $10,000,000 in 2006, and $8,300,000 in 2007.
    
    Additional administrative costs to the State Tax Department associated with this bill would be minimal.


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