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 exempt from consumers sales and service tax homeowners’ association dues, fees and assessments paid by members thereof which are to be used by the homeowners’ association acting in its representative capacity for all members to purchase for the members, rather than sell to the members, such goods and services.
    
    This bill proposes to exempt homeowners’ association dues from the Consumers Sales Tax. As a result, there would be minimal revenue loss to the General Revenue Fund from the passage of this bill.
    
    There would be no additional administrative costs to the State Tax Department from the passage of this bill.
    



Fiscal Note Detail


Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
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 0


Explanation of above estimates (including long-range effect):


    The stated purpose of this bill is to exempt from consumers sales and service tax homeowners’ association dues, fees and assessments paid by members thereof which are to be used by the homeowners’ association acting in its representative capacity for all members to purchase for the members, rather than sell to the members, such goods and services.
    
    This bill proposes to exempt homeowners’ association dues from the Consumers Sales Tax. As a result, there would be minimal revenue loss to the General Revenue Fund from the passage of this bill.
    
    There would be no additional administrative costs to the State Tax Department from the passage of this bill.
    



Memorandum


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