FISCAL NOTE



FUND(S):

Road Fund

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


House Bill 4206 The purpose of this bill is to authorize a special Shepherd University registration plate. This bill establishes a one time fee of $10.00 to cover the cost of issuance of the plate and an annual fee of $15.00 for each plate. These fees are in addition to the regular annual registration fee. In accordance with other provisions of 17A-3-14, there must be at least 100 registrants prior to the Division of Motor Vehicles Starting production of the Shepherd University plate. The Division has been paying $8.30 for special plates, plus $5.00 for administration cost. Total cost to issue this special plate is $13.30 per plate, or $1,330. Revenues generated from this plate will be $2,500 the first year, and $1,500 in subsequent years. All revenues generated by this bill will be deposited to the State Road Fund.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2010
Increase/Decrease
(use"-")
2011
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 1,330 0
Personal Services 0 0 0
Current Expenses 0 500 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 830 0
2. Estimated Total Revenues 0 2,500 1,500


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


Cost to issue the plate Plate Cost $ 8.30 Administrative Cost $ 5.00 Total Cost Per Plate $ 13.30 Number of Plates 100 Total Cost $ 1,330 Revenue One Time Fee $ 10.00 Annual Fee $ 15.00 Number of Plates 100 First Year Revenue $ 2,500 Second Year Revenue $ 1,500



Memorandum






    Person submitting Fiscal Note: Rick Johnston
    Email Address: Rick.M.Johnston@wv.gov