Date Requested:February 18, 2008
Time Requested:12:45 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2008R2262 Introduced SB709
CBD Subject: VOLUNTEER FIREMEN RETIREMENT PLAN
FUND(S)
West Virginia Volunteer Firefighter Length of Service Fund
Sources of Revenue
General Fund
Legislation creates:
A New Fund

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

    The stated purpose of this bill is to establish the “West Virginia Volunteer Firefighter Length of Service Act”; and to create a fund to be used for pensions for volunteer firefighters with twenty years service.
    
    As written, the bill would create a special revenue fund where proceeds from the “Fireworks Safety Fee” shall be deposited. The new “Fireworks Safety Fee” is established in proposed §29-3-24(c) (Senate Bill 707). The fund will provide a pension to volunteer firefighters of eight hundred dollars per month for the rest of his or her life who meet the criteria set forth in the proposed bill. According to our interpretation, this bill, by itself, would have no revenue effect.
    
    There would be no additional administrative costs to the State Tax Department associated with passage of this bill.
    

Fiscal Note Detail
Over-all effect
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 0
3. Explanation of above estimates (including long-range effect):
    The stated purpose of this bill is to establish the “West Virginia Volunteer Firefighter Length of Service Act”; and to create a fund to be used for pensions for volunteer firefighters with twenty years service.
    
    As written, the bill would create a special revenue fund where proceeds from the “Fireworks Safety Fee” shall be deposited. The new “Fireworks Safety Fee” is established in proposed §29-3-24(c) (Senate Bill 707). The fund will provide a pension to volunteer firefighters of eight hundred dollars per month for the rest of his or her life who meet the criteria set forth in the proposed bill. According to our interpretation, this bill, by itself, would have no revenue effect.
    
    There would be no additional administrative costs to the State Tax Department associated with passage of this bill.
    


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kpetry@tax.state.wv.us
    The stated purpose of this bill is to establish the “West Virginia Volunteer Firefighter Length of Service Act”; and to create a fund to be used for pensions for volunteer firefighters with twenty years service.
    
    This bill is meant to work in conjunction with Senate Bill 707, which would legalize the sale of fireworks in West Virginia, and impose a special fee on sales that would fund the account created by the proposed bill.