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