FUND(S):

General Revenue Fund, local governments

Sources of Revenue:

General Fund,Other Fund local governments

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 an exemption from property taxation for property used by nonprofit corporations to provide electricity to residents of this state.
    
    Passage of this bill would result in a in a loss of $280,000 in local property tax revenue and a minimal decrease in General Revenue Fund collections.
    
    There would be no additional administrative costs.
    



Fiscal Note Detail


Effect of Proposal Fiscal Year
2008
Increase/Decrease
(use"-")
2009
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 -280,000


Explanation of above estimates (including long-range effect):


    Passage of this bill would result in a in a loss of $280,000 in local property tax revenue and a minimal decrease in General Revenue Fund collections.
    
    There would be no additional administrative costs.
    



Memorandum


    



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