FISCAL NOTE



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


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


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