|Date Requested:February 25, 2013
Time Requested:02:32 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
| This bill will increase the revenues collected by the PSC's Gas Pipeline fund by a maximum of $85,000 by increasing the special license fees that gas pipeline companies pay from a maximum of $315,000 to a maximum of $400,000 per annum.
This bill has no impact on costs for the Public Service Commission (PSC). However; if the PSC receives the revenue increase requested in this bill, we will increase our expenditures (costs) through hiring of a gas pipeline safety inspector provided the Gas Pipeline fund’s budgeted spending authority is increased and approved in the budget bill.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||0||0|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||70,164||85,000|
3. Explanation of above estimates (including long-range effect):
Fiscal Year 2013: This bill has no impact on fiscal 2013 revenues.
Fiscal Year 2014: This bill will increase the revenues collected by the Gas Pipeline fund of the PSC by $70,164 in fiscal year 2014.
• Currently the PSC is allowed to collect a maximum of $315,000 per annum in special license fees from gas pipeline companies. This bill increases that maximum to $400,000.
• The Gas Pipeline’s fund’s “appropriated special revenue” budget for fiscal year 2014 is expected to be approved at $385,164.
• Therefore to fund the fiscal year 2014 budget the amount of the special license fees to be paid by gas pipeline companies will increase by $70,164 ($385,164 minus $315,000).
Fiscal Year (Upon Full Implementation): This bill will increase the revenues collected by the Gas Pipeline fund of the PSC by $85,000 upon full implementation.
• The PSC will only collect the amount needed to fund its Gas Pipeline fund’s budget not to exceed $400,000 per annum.
• Therefore the maximum additional revenue this bill allows is $85,000. (New maximum of $400,000 minus current maximum of $315,000).