Date Requested:February 14, 2013
Time Requested:01:36 PM
Agency: State Tax & Revenue Department
CBD Number: Version: Bill Number: Resolution Number:
2013R1527 Introduced SB42
CBD Subject: $250 TAX CREDIT FOR FIREFIGHTERS
FUND(S)
General RevenueFund
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 purpose of this bill is to provide a $250 tax credit to firefighters who have up-to-date credentials for the taxable year.
     The proposed bill states that any firefighter who has up to date credentials for a taxable year will be entitled to a $250 credit against his or her personal income tax for that tax year. Passage of this bill would result in a loss to the General Revenue Fund of roughly $2.1 million per year beginning in FY2015. Due to the lack of an internal effective date, this bill would not become effective until the 2014 tax year.
    
     Additional administrative costs to the State Tax Department would be minimal.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2013
Increase/Decrease
(use"-")
2014
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 -2,100,000
3. Explanation of above estimates (including long-range effect):
     The proposed bill states that any firefighter who has up to date credentials for a taxable year will be entitled to a $250 credit against his or her personal income tax for that tax year. Passage of this bill would result in a loss to the General Revenue Fund of roughly $2.1 million per year beginning in FY2015. Due to the lack of an internal effective date, this bill would not become effective until the 2014 tax year.
    
     Additional administrative costs to the State Tax Department would be minimal.


Memorandum
Person submitting Fiscal Note:
Mark B. Muchow
Email Address:
Roger.D.Cox@wv.gov
     The State Fire Commission is currently considering altering the minimum training requirements for firefighters. If this were to happen it could significantly alter the fiscal impact of the bill.