Date Requested:June 01, 2009
Time Requested:10:02 AM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2009X4005 Introduced HB104
CBD Subject: Motor Fuel Excise Tax Shortfall Reserve Fund
FUND(S)
General Revenue Fund, State Road Fund & Motor Fuel Excise Tax Shortfall Reserve Fund
Sources of Revenue
General Fund,Special Fund,Other Fund State Road Fund
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

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

    The state purpose of this bill is to continue the Motor Fuel Excise Tax Shortfall Reserve Fund and to specify termination of the fund on June 30, 2013.
    
    The passage of this bill would extend the time period over which transfers from the “Motor Fuel Excise Tax Shortfall Reserve Fund” to the State Road Fund may occur. As of June 1, 2009, there remained a total of $27.3 million in the Reserve Fund. Reserve Fund transfers occur only when actual Motor Fuel Excise Tax collections fall below estimated collections. The transfers would offset such shortfalls.
    
    There would be no additional administrative costs to the State Tax Department from the passage of this bill.
    

Fiscal Note Detail
Over-all effect
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 0 0
3. Explanation of above estimates (including long-range effect):
    The state purpose of this bill is to continue the Motor Fuel Excise Tax Shortfall Reserve Fund and to specify termination of the fund on June 30, 2013.
    
    The passage of this bill would extend the time period over which transfers from the “Motor Fuel Excise Tax Shortfall Reserve Fund” to the State Road Fund may occur. As of June 1, 2009, there remained a total of $27.3 million in the Reserve Fund. Reserve Fund transfers occur only when actual Motor Fuel Excise Tax collections fall below estimated collections. The transfers would offset such shortfalls.
    
    There would be no additional administrative costs to the State Tax Department from the passage of this bill.
    


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