FISCAL NOTE
FUND(S):
1612 - Service and Collections Account
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This bill would reduce annual revenue by $267,200 but the requirement of the Secretary of State maintaining current and up to date records for each organization would not change.
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 |
-267,200 |
-267,200 |
-267,200 |
Explanation of above estimates (including long-range effect):
There are 1,209 voluntary association @$25 each = $30,225 and there are 9,479 nonprofit corporations @$25 each = $236,975. This is a total of $267,200 of lost revenue to the State. This revenue is split between our service fees account and general revenue.
Memorandum
Being attorney-in-fact not only allows the Secetary of State to accept service of an organization but also allows the Secretary of State to update mailing addresses and officers of an organization when it files its annual report (which begins the point of service). The Secretary of State's office opposes this bill.
The State Tax Department currently is sponsoring two other bills (SB557 and HB4421) that repeal and/or amend the sections addressed in this bill.
Person submitting Fiscal Note: Marie Lamont
Email Address: mlamont@wvsos.com