FISCAL NOTE
FUND(S):
The Partnership to Promote Community Well-Being Account
Sources of Revenue:
Special Fund
Legislation creates:
A New Program,A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to create an excise tax on methadone in the amount of $1.00 per daily dose per patient being treated for opioid addiction.
According to available data, the passage of this bill would result in roughly $1.6 million per year deposited into the new “Partnership To Promote Community Well-Being Account”.
Additional administrative costs to the State Tax Department would be minimal during the current fiscal year due to notifying taxpayers of the new tax. Thereafter, there would be no additional administrative costs.
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 |
2,800 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
2,800 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
1,600,000 |
Explanation of above estimates (including long-range effect):
The purpose of this bill is to create an excise tax on methadone in the amount of $1.00 per daily dose per patient being treated for opioid addiction.
According to available data, the passage of this bill would result in roughly $1.6 million per year deposited into the new “Partnership To Promote Community Well-Being Account”.
Additional administrative costs to the State Tax Department would be minimal during the current fiscal year due to notifying taxpayers of the new tax. Thereafter, there would be no additional administrative costs.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kpetry@tax.state.wv.us