Date Requested:January 30, 2012
Time Requested:02:43 PM
Agency: Motor Vehicles, Division of
CBD Number: Version: Bill Number: Resolution Number:
2012R1654 Introduced HB4338
CBD Subject: ABANDONED OR JUNKED VEHICLE
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 raise the maximum value amount of an abandoned motor vehicle from $2,500 to $7,500 before someone hired by an enforcement agency may sell that vehicle at a private sale or auction. The bill also requires an additional $10 fee be paid to the Division of Motor Vehicles for titling an abandoned vehicle.
    
     The Division of Motor Vehicles estimates currently there are approximately 400 abandoned vehicle titles issued each year. It is estimated that current legislation would increase the number of abandoned vehicles by 25% to 500 yearly.
    
     Based on the above figures, it is estimated an additional $5,000 would be generated by this bill annually.
    

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 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 5,000 5,000 5,000
3. Explanation of above estimates (including long-range effect):
    Revenue:
    
     Abandoned Vehicle Fee - $ 10
    
     Abandoned Titles Issued
     Each Year 500
    
     Revenue from Abandoned
     Vehicle Fee Annually $5,000
    


Memorandum
Person submitting Fiscal Note:
Jerry L. Conrad
Email Address:
Jerry.L.Conrad@wv.gov