Date Requested:February 22, 2010
Time Requested:11:29 AM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2010R2091 Introduced HB4575
CBD Subject: EXEMPTING ANTIQUE CARS & MOTORCYCLES
FUND(S)
General Revenue Fund, local governments
Sources of Revenue
General Fund,Other Fund local property tax
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary

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

    This bill exempts from taxation motor vehicles which are more than forty years old.
    
    The bill would result in an annual decrease of $490,000 in local property tax revenues and minimal loss in State revenue.
    
    There would be no additional costs to the State and local governments.
    
Fiscal Note Detail
Over-all effect
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 0 -490,000
3. Explanation of above estimates (including long-range effect):
    The bill would result in an annual decrease of $490,000 in local property tax revenues and minimal loss in State revenue.
    
    There would be no additional costs to the State and local governments.
    

Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kerri.r.petry@wv.gov
    This bill exempts from taxation motor vehicles which are more than forty years old.
    
    A primary concern is whether the Legislature has the authority under West Virginia Constitution Article X, Section 1, to exempt this type of property from ad valorem taxation. Only property used for certain activities (i.e., educational, literary, scientific, religious or charitable purposes) may be exempted.