FISCAL NOTE



FUND(S):

General Revenue Fund

Sources of Revenue:

General 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 allow a deduction from the adjusted gross income of a taxpayer for contributions to the maintenance and improvement of state, county and municipal parks. According to our interpretation, passage of this bill would result in a reduction in General Revenue Fund collections by roughly $0.9 million or less per year beginning in FY2010. The bill would create a new decreasing modification of up to $3,000 per taxpayer for contributions made to State, county or municipal parks. If all returns would be accepted as filed, there would be no additional administrative costs to the State Tax Department.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2009
Increase/Decrease
(use"-")
2010
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 -900,000 -900,000


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


This bill adds a new decreasing modification of up to $3,000 per taxpayer for contributions made to State, county or municipal parks. This new decreasing modification would reduce General Revenue Fund collections by $0.9 million or less per year beginning in FY2010. The bill would require regulations to determine the timing of qualified contributions for purposes of this decreasing modification. If all returns would be accepted as filed, there would be no additional administrative costs to the Tax Department.



Memorandum






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