Date Requested:January 16, 2012
Time Requested:03:38 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2012R1522 Introduced SB200
CBD Subject: TIMBER SEVERANCE TAX
FUND(S)
Division of Forestry Severance Tax Operations 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 stated purpose of this bill is to eliminate the timber severance tax for an additional three years.
    
    According to our interpretation, passage of this bill would extend the discontinuation of the Severance Tax on timber levied via W. Va. Code §11-13A-3b through 2015. The bill would result in reductions in the Division of Forestry Severance Tax Operations Fund of roughly $1.0 million per year for FY2013 through 2015.
    
    Additional administrative costs to the State Tax Department associated with this bill would be minimal.
    

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 830 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 -1,000,000 0
3. Explanation of above estimates (including long-range effect):
    Passage of this bill would extend the discontinuation of the Severance Tax on timber levied via W. Va. Code §11-13A-3b through 2015. The bill would result in reductions in the Division of Forestry Severance Tax Operations Fund of roughly $1.0 million per year for FY2013 through 2015.
    
    Additional administrative costs to the State Tax Department associated with this bill would be minimal.
    


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