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.
The purpose of this bill is to authorize a special “In God We Trust” registration plate. This bill establishes a one time fee of $5.00 to cover the cost of issuance of the plate and an annual fee of $5.00 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 250 registrants prior to the Division of Motor Vehicles Starting production of the “In God We Trust” 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 $3,325.
Revenues generated from this plate, based on the minimum number of 250 registrations, will be $2,500 the first year, and $1,250 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 |
2011 Increase/Decrease (use"-") |
2012 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
3,325 |
3,325 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
1,250 |
1,250 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
2,075 |
2,075 |
0 |
2. Estimated Total Revenues |
2,500 |
2,500 |
1,250 |
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 250
Total Cost $3,325.00
Revenue
One Time Fee $ 5.00
Annual Fee $ 5.00
Number of Plates 250
First Year Revenue $2,500.00
Second Year Revenue $1,250.00
Memorandum
Person submitting Fiscal Note: Jerry L. Conrad, Director
Email Address: Jerry.L.Conrad@wv.gov