| Date Requested:February 18, 2013 Time Requested:01:47 PM |
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| FUND(S) Road Fund | |||
|---|---|---|---|
Sources of Revenue | |||
| Special Fund | |||
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. |
| 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 | 13 | 13 | 13 |
| Personal Services | 0 | 0 | 0 |
| Current Expenses | 5 | 5 | 5 |
| Repairs and Alterations | 0 | 0 | 0 |
| Assets | 0 | 0 | 0 |
| Other | 8 | 8 | 8 |
| 2. Estimated Total Revenues | 11 | 11 | 11 |
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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 Revenue 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) |