Date Requested:June 01, 2009
Time Requested:10:05 AM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2009X4011 Introduced SB1009
CBD Subject: Autism Support
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 purpose of this bill is to create a tax deduction for creation of trusts to support children with autism and sets forth the procedure by which such trusts are created.
    
    As written, this bill would allow a decreasing modification of up to $2,000 per year for contributions to a trust fund for the future support of a child with autism. The passage of this bill would result in a loss of less than $30,000 per year in Personal Income Tax revenue beginning in Fiscal Year 2011. In addition, any income earned or withdrawal of funds for intended purposes would be excluded from State income tax.
    
    Additional administrative costs to the State Tax Department from the passage of this bill would be $4,200 in FY2010 due to additional printing and personnel costs. Thereafter, additional administrative costs would be about $3,000 per year due to review and reporting costs.
    

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 4,200 3,000
Personal Services 0 4,000 2,800
Current Expenses 0 200 200
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 -30,000
3. Explanation of above estimates (including long-range effect):
    The purpose of this bill is to create a tax deduction for creation of trusts to support children with autism and sets forth the procedure by which such trusts are created.
    
    As written, this bill would allow a decreasing modification of up to $2,000 per year for contributions to a trust fund for the future support of a child with autism. The passage of this bill would result in a loss of less than $30,000 per year in Personal Income Tax revenue beginning in Fiscal Year 2011. In addition, any income earned or withdrawal of funds for intended purposes would be excluded from State income tax.
    
    Additional administrative costs to the State Tax Department from the passage of this bill would be $4,200 in FY2010 due to additional printing and personnel costs. Thereafter, additional administrative costs would be about $3,000 per year due to review and reporting costs.
    


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