FISCAL NOTE
FUND(S):
Sources of Revenue:
General Fund
Legislation creates:
A New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 4375, would provide up to a $3,500 tax credit for full-time nursing faculty members in the State which means a public or private educational institution that offers a nursing curriculum for students seeking to become registered professional nurses. The West Virginia Center for Nursing reports that there is currently 200 full-time nursing faculty throughout higher education institutions in West Virginia. The tax credit is only to be used to offset or reduce a tax liability. Staff of the West Virginia State Tax Department estimates, based on the average nursing faculty salary of $39,000, that the average liability is $1,440. The estimated fiscal impact would be $300,000 in forgone revenue to the State.
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 |
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 |
-300,000 |
-300,000 |
Explanation of above estimates (including long-range effect):
The West Virginia Center for Nursing reports that there is currently 200 full-time nursing faculty throughout higher education institutions in West Virginia. The tax credit is only to be used to offset or reduce a tax liability. Staff of the West Virginia State Tax Department estimates, based on the average nursing faculty salary of $39,000, that the average liability is $1,440. The estimated fiscal impact would be $300,000 in forgone revenue to the State.
Memorandum
Person submitting Fiscal Note: Terry Hess
Email Address: hess@hepc.wvnet.edu