|Date Requested:February 18, 2013
Time Requested:01:47 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
| The purpose of this bill is to authorize a special Hatfield and McCoy registration plate. This bill establishes a one time fee of $10.00 to cover the cost of issuance of the plate and an additional fee of $15.00 for each plate annually.
The Division has been paying $8.50 for special plates, plus $5.00 for administration cost. Total cost to issue this special plate is $13.50 per plate.
Net revenues generated from this plate will be $11.50 per plate in the first year, which includes the $10 one time fee and the $15 annual fee. Each year thereafter there will be the $15 annual fee.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||13||13||13|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||11||11||11|
3. Explanation of above estimates (including long-range effect):
Cost to issue each plate
Plate Cost $ 8.50
Administrative Cost $ 5.00
Total Cost Per Plate $ 13.50
First Year Revenue $25.00 per plate
Second Year Revenue $15.00 per plate
(On the fiscal note detail above, the numbers are .50 less than actual figures because system will not accept decimal point and half dollar amounts)