Date Requested:February 08, 2011
Time Requested:12:03 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2011R2124 Introduced HB3055
CBD Subject: TAX CREDITS FOR NURSING FACULTY
FUND(S)
General Revenue Fund
Sources of Revenue
General Fund
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

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

    The stated purpose of this bill is to retain full-time nursing educators in the state by providing up to a $3,500 tax credit for full-time nursing faculty members. The bill sets forth the criteria for the credit. The bill also grants rule-making authority to Tax Commissioner.
    
    As written, this bill would reduce General Revenue collections by approximately $700,000 beginning in FY2013. Due to the lack of an internal effective date, this bill would not become effective until the 2012 tax year. Absent an internal effective date, the provisions of this bill would become effective for the 2012 tax year.
    
    There would be no additional administrative costs to the State Tax Department.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2011
Increase/Decrease
(use"-")
2012
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 40 -700,000
3. Explanation of above estimates (including long-range effect):
    The stated purpose of this bill is to retain full-time nursing educators in the state by providing up to a $3,500 tax credit for full-time nursing faculty members. The bill sets forth the criteria for the credit. The bill also grants rule-making authority to Tax Commissioner.
    
    There are approximately 309 West Virginia residents who are teaching full-time as nursing faculty at West Virginia higher education institutions with annual salary varying based on institutions and faculty positions. As written, this bill would reduce General Revenue collections by approximately $700,000 beginning in FY2013. Absent an internal effective date, the provisions of this bill would become effective for the 2012 tax year.
    
    There would be no additional administrative costs to the State Tax Department.


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kerri.r.petry@wv.gov