FISCAL NOTE
FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund,Other Fund local property tax
Legislation creates:
A New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to include motorboats, rental cars, factory-built homes and house trailers in the special method for appraising dealer vehicle inventory.
The loss of revenue to the State and local governments cannot be determined.
Additional administrative costs to the State Tax Department or local governments cannot be determined.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2007
Increase/Decrease
(use"-") |
2008
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 |
Explanation of above estimates (including long-range effect):
The State Tax Department does not have sufficient data to estimate the revenue loss to the State and local governments due to passage of this bill.
Additional administrative costs to the State Tax Department or local governments cannot be determined.
Memorandum
The purpose of this bill is to include motorboats, rental cars, factory-built homes and house trailers in the special method for appraising dealer vehicle inventory.
The title of the bill refers to adding dealer boat inventory and rental car inventory to W. Va. Code ยง11-6C-1. However, the bill title does not include any reference to house trailers or factory-built homes. If special appraisal methods for dealer inventories of house trailers and factory-built homes are amended into this Article, this could be interpreted as a violation the Constitution.
Person submitting Fiscal Note: Mark Muchow
Email Address: kpetry@tax.state.wv.us